Barrick Gold May Increase Pascua-Lama Costs Again; Indian Silver Lifts

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It looks as though Barrick Gold Corp. will likely be raising “the cost estimate for its huge Pascua-Lama mine project in South America for the third time in less than two years when the world’s top gold producer reports results on Thursday,” reports Reuters.

“Much has changed since November, when Toronto-based Barrick pegged the cost of the gold and silver project at $8.5-billion, and markets are anxious to see the company’s new capital cost estimate.”

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Indian silver moved up 1.7 percent on Tuesday, October 29, the day’s biggest change. The price of Japanese silver increased 1.3 percent. The price of Chinese silver fell 0.8 percent. US silver finished the day down 0.4 percent.

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Japanese gold bullion gained 1.2 percent to finish. Chinese gold bullion finished the day up 0.2 percent. The price of Indian gold bullion showed little movement yesterday. After a couple of days of improving prices, the price of US gold bullion held steady.

Japanese platinum bar saw its price rise 1.3 percent. Chinese platinum bar prices rose 1.0 percent. The price of US platinum bar steadied following two-days of increases.

The price of Japanese palladium bar moved yesterday. After a few changeless days, prices dropped 0.8 percent. The price of US palladium bar remained steady. Chinese palladium bar stayed flat.