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August 7, 2011

China's gold output exceeds 164T in first half, Gold sky-rockets to all-time high in India

Some mining news

China's gold output exceeds 164 tonnes in first half of year

MCOT - August 6, 2011 - PERMALINK
China's gold output grew by 5.18 tonnes, or 3.25 percent year-on-year to 164.42 tonnes during the first half of the year, the Ministry of Industry and Information Technology (MIIT) said Friday. In June alone, the country

Gold sky-rockets to all-time high in India as traders gear up for spectacular jewellery festival

Frik Els - August 6, 2011 - PERMALINK
The price of gold zoomed to an all-time high of Rs24,770 per 10 grams by adding Rs420 in New Delhi, India on Saturday on frantic buying by stockists and investors. India is the world's number one consumer of gold and official figures released on Friday show the country's revenue from the importation of gold almost doubled in 2010-11 compared to the previous year. The news follows the announcement by the World Gold Council that it is teaming up with jewellers to sell discounted gold to price-conscious Indians during the all-important Shraavan Aavani month that culminates in a festival next Friday.

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