Keeping up with Gold News: Weekend Roundup

Gold rises on U.S. job losses, recession fears

Gold gained in choppy trade on Friday as an oil rally and weaker-than-expected U.S. jobs data pushed the dollar down and lifted gold's appeal as an alternative investment.

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Gold rally intact, despite recent sell-off

A brutal sell-off in gold from record highs above $1,000 an ounce last month has failed to deter market bulls who believe turbulence in financial markets will keep attention firmly on bullion this year.

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Burglars target British Indians for gold

London: The soaring price of gold has caused a sudden spurt in crime in a London suburb with a large population of Indians - a community known to stash away gold jewellery at home.

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Gold rises on weaker-than-expected U.S. jobs data

Gold gained in choppy trade on Friday as weaker-than-expected U.S. jobs data pushed the dollar down and lifted gold's appeal as an alternative investment.

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AngloGold revises up March gold output

ANGLOGOLD Ashanti forecasts first quarter production of 1.19 million oz, which is eight percent higher than it told the market in February. The increase comes from better-than-expected performance in the South African power crisis, the company said on Friday.

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Vishnu Pillay to Head up Gold Fields Operations in South Africa

Gold Fields Limited ("Gold Fields") (NYSE:GFI) today announced that, further to the executive management changes announced on Monday, 30 March 2008, Vishnu Pillay has been promoted to Executive Vice President and Head of South African Operations, to replace Terence Goodlace who was promoted to Chief Operating Officer for the Group, and will join the Gold Fields Executive Committee.

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Gold Market Wrong-Footed in Thin Trade by Shock Fall in US Payrolls

Gold Prices dipped, bounced and then fell back again from a four-day high early Friday on news that US job losses exceeded expectations last month.

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Not Everyone Bothered by Drop in Gold Prices: Ask Asian Jewellers

After Thursday's drop in gold prices of over $100 an ounce, Asian jewellers scrambled to buy gold for their trade.

India, unsurprisingly, was a very busy market, as the world's largest consumer of gold continues to buy on the drop in gold prices, as their wedding season is in full swing.

Along with the long-held custom of building up a daughter's dowry from her birth, Indians also distribute it to one another for a number of special occasions. That, and using it for jewellery, as well as an investment, makes gold so important to the Indian people.

Another key Asian buyer of gold has been Vietnam, whose 12 percent inflation rate last year has kept them buying gold as an inflation hedge.

"Vietnam is buying gold even when it's trading at record highs this month. For them it's more for a hedge because inflation was more than 12 percent last year," said a dealer in Singapore. "Nobody wants to keep dollars because it's depreciating."

Other countries where gold is in high demand for jewellers are Thailand and Indonesia.