New CEO for African Barrick Gold, Japan Prices Improve

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The gold market continues to headline the news this week, as mining companies are under fire.

“Tanzania-focused miner African Barrick Gold on Wednesday named industry veteran Bradley A Gordon as its new chief executive, succeeding Greg Hawkins who has resigned to pursue other opportunities. African Barrick was under pressure even before a gold price rout began in April, hit by illegal mining, power generation problems and strikes, issues which forced it to warn in February that output would shrink for a fifth straight year,” according to Reuters.

The price of Japanese silver rose 4.1 percent on Tuesday, August 20, making it the day’s biggest mover. Following a couple days of improvement, the price of Chinese silver weakened by 0.9 percent. The price of US silver fell by 0.3 percent. The price of Indian silver ended a two-day climb.

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After a 1.1 percent increase, the price of Japanese gold bullion finished the day higher. Weakening prices followed two days of improvement as the price of Chinese gold bullion dropped 0.9 percent. After improving for two days, the price of US gold bullion declined 0.8 percent. After a couple of days of improving prices, the price of Indian gold bullion held steady.

Tuesday saw the price of Japanese platinum bar drift down 1.4 percent. US platinum bar finished the day down 1.3 percent. The price of Chinese platinum bar fell 0.9 percent.

US palladium bar fell 1.4 percent yesterday. Weakening prices followed two days of improvement as the price of Chinese palladium bar dropped 1.2 percent. The price of Japanese palladium bar closed Tuesday, halting its two-day flat run with a 0.6 percent decline.

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