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Gold prices in India go to premium for first time this year
Gold Prices Just Did Something They Haven't Done All Year
By Dave Forest
OilPrice.com, London
Thursday, October 13, 2016
Finally the global gold market is getting some good news from its top consuming nation -- India.
Reports this week suggest that something very unusual has just happened with India's local gold prices: They've jumped to a premium above worldwide bullion prices.
That's big news because -- so far this year -- India's prices have been lagging the rest of the world. With gold here selling at discounts of $50 or more per ounce below average global prices.
But that situation has now apparently reversed itself. With local media reporting that gold sellers in Mumbai's Zaveri Bazar were quoting gold at $1 to $2 above benchmark pricing. Marking the first time this year that India's prices have pulled back to parity. ...
... For the remainder of the report:
http://oilprice.com/Metals/Gold/Gold-Prices-Just-Did-Something-They-Have...
K92 Mining Begins Gold Production at Kainantu Mine
Company Announcement
Wednesday, October 5, 2016
K92 Mining Inc. is pleased to announce that gold production has commenced from the Irumafimpa gold deposit.
Ian Stalker, K92 Chief Executive Officer, says: "This milestone is highly significant for our company, and for this region of Papua New Guinea. A great deal of thanks goes to the entire team on site in PNG in achieving production ahead of schedule and on budget. The rehabilitation of the Irumafimpa gold mine, process plant, and associated infrastructure commenced in late March and is now complete. As an enhancement of the processing facility, we are also pleased to note that the installation of a new drum scrubber is also nearing completion and commissioning of this will be completed by the end of the month. ..."
...For the remainder of the announcement:
http://www.k92mining.com/2016/10/6077/
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