Aris Mining Corp (ARMN)

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Gold Prices Steady, Set for First Weekly Rise

March 16, 2017

Gold prices held strong as it remained on track for its first weekly gain in three. The dollar index was holding near five-week lows it touched during the previous session.

Spot gold inched down 0.1 percent to $1,224.90 an ounce. The precious metal reached $1,233.13, its highest since March 6 in the earlier session. U.S. gold futures settled 0.2 percent lower to $1,224.60. Holdings of SPDR Gold Trust, the world’s biggest gold-backed exchange-traded fund, was down 0.28 percent to 837.06 tonnes on Thursday.

The world’s largest gold producer Barrick Gold Corp was reported seeking potential options for its Lagunas Norte mine in Peru. It involves a sale of a part or the entire asset, according to three people who are familiar with the matter. Canadian-based Gran Colombia Gold has signed an option agreement with Iamgold to explore the Zancudo project.

In other metals, spot silver climbed 0.05 percent to $17.31 an ounce, after notching its highest in a week at $17.56. Platinum rose 0.8 percent at $957 an ounce while palladium was up 0.2 percent at $764.70 an ounce.

http://theinvestorzone.com/2017/03/16/gold-prices-steady-set-for-first-weekly-rise/