Gold

Gold (Forex Index pm fix) - Today's data summary

% change
+0.13%
Price dollars per ounce
1311.30
Change
+1.70
As of 08:21 25 Mar 2019

Gold (Forex Index am fix) - Today's data summary

% change
-0.47%
Price dollars per ounce
1311.10
Change
-6.20
As of 08:21 25 Mar 2019

Latest updates

Ancient 'Sky Disc' was made with Cornish gold, researchers find

BBC Radio Cornwall

An ancient artifact that was discovered in 1999 was partially made using gold from Cornwall.

The Sky Disc of Nebra is 3,600 year old Bronze-age astronomical disc, used to determine the seasons for sowing and harvesting in the Halle area of Saxony-Anhalt in Germany.

Gold nuggets from the Carnon valley near Truro were recently discovered at Caerhays Castle on the Roseland, and they have proved to match the type of gold used to decorate the disc.

Courtenay Smale, the curator of the Caerhays Mineral collection, and Professor Gregor Borg of the Martin-Luther University in Halle-Wittenberg, Germany have been speaking to BBC Radio Cornwall Breakfast:

Gold nuggets found at Caerhays Castle proved the link with the historic German artifact.

Barrick Gold drops hostile bid for Newmont

Gold bars
Reuters

Canada's Barrick Gold has withdrawn its hostile $18bn takeover bid for Newmont Mining Corp.

Instead, peace has broken out between the world's two biggest gold producers. The companies have agreed to create a joint venture for their mining operations in Nevada.

Under the terms of the agreement, Barrick will hold a majority stake of 61.5% in the venture.

"We are finally taking down the fences to operate Nevada as a single entity in order to deliver full value to both sets of shareholders," said Barrick chief executive Mark Bristow.

Radical restructuring

More from Mark Bristow, chief executive of Barrick Gold, after tabling a bid for Newmont, which is listed on the New York stock exchange.

"Considered globally, the merger represents a radical and long-overdue restructuring of the gold industry, and a transformative shift from short-term survival tactics to the long-term creation of sustainable value," he said.

Newmont had been buying Goldcorp but, in launching the bid, Barrick is telling Newmont's shareholders that they would be better off with Barrick.

Barrick shareholders would own 55.9% of the merged company and Newmont 44.1%.

Barrick bids for Newmont

workers
BARRICKGOLD

Barrick Gold has launched a hostile offer for Newmont Mining, just weeks after completing the takeover of London-listed Randgold.

The deal is worth around $18bn (£13.7bn) and Newmont shareholders would receive 2.5694 Barrick shares for each of theirs.

Mark Bristow, chief executive of Toronto-based Barrick Gold, said: “The combination of Barrick and Newmont will create what is clearly the world’s best gold company".