(Reuters) - Demand in China for physical gold and gold-related investments is growing at an "explosive" pace and its appetite for the yellow metal is poised to remain robust amid inflation concerns, said an Industrial and Commercial Bank of China (ICBC) executive. ICBC (1398.HK)( Read More » Tags

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• Industrial and Commerical Bank of China

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Gold is poised for a 10th annual gain, as investors seek to protect their wealth against accelerating consumer prices and declining currencies. “Gold’s rally will continue next year as inflation pressures continue to build and as currencies remain weak,” said Li Ning, an analyst at China International Futures (Shanghai) Co. “The global economy is recovering but we’re not completely out of the wood...

In a report raising their target for Torex Gold Resources Inc., analysts at Dundee Securities stated that exploration at the Morelos Project in the Guerrero Gold Belt will be the value driver. “We believe there is no shortage of attractive targets to test at Morelos, including the strike and depth extensions of the known deposits along with multiple early stage prospects that have seen only limited work t...

Leading economies should consider readopting a modified global gold standard to guide currency movements, said World Bank president Robert Zoellick. Writing in the Financial Times, Zoellick said a "Bretton Woods II" system of floating currencies is needed to replace the Bretton Woods fixed-exchange rate regime that broke down in the early 1970s. Zoellick called for a system that "is likely to need to involve the dollar, the euro, the yen...

Torex Gold Resources Inc. plans to significantly increase the exploration program at its 100% owned Morelos Gold Project in Mexico. Torex currently has five drill rigs operating on the property and plans to increase that number to a total of eleven drill rigs by early in 2011. The total meterage for the Company's initial drill program on the Morelos property will increase from the planned 56,500 meters to ...

Investors are piling money into gold in record quantities, pushing the price on Friday to a record nominal high of more than $1,320 a troy ounce. That has made the vaulting business highly lucrative, since banks often charge a small percentage of the value of the gold stored. Many commercial banks dismantled their vaults in the 1980s and 1990s. But now they are rushing to build: JP Morgan recently built a vault in Singapore, while Deutsche Bank...

Mining companies are ramping up gold exploration in Latin America as areas before seen as risky, like southern Mexico and Colombia, are now glittering with new projects as precious metals prices soar. Exploration budgets, the first thing mining companies slashed during the financial crisis, plummeted 42 percent from 2008 to 2009, the largest one-year decline in two decades, according to consultancy M...

Goldman Sachs has raised its 12-month gold price forecast to $1,650 an ounce, while its three and six-month predictions have also been raised to $1,400 and $1,525 respectively. Goldman Sachs said in a note: ‘With US real interest rates pushing lower off the slowdown in the pace of the US economic recovery and the growing prospect of another round of quantitative easing, we expect gold prices to continue to climb."...

Gold  may advance on concern that European banks may struggle to raise funds, increasing the appeal of the metal as a means to protect wealth. Association of German Banks said that the nation’s 10 largest lenders, including Deutsche Bank AG, may need about 105 billion euros ($134 billion) in fresh capital because of new regulations. The Wall Street Journal also reported that Europe’s recent “stress tests” on the strength of major banks...

Gold prices hit an all-time high as demand surged to the highest level since the collapse of Lehman Brothers in 2008 amid volatile financial markets in Europe. Spot gold in London surged to above $1,230 a troy ounce, surpassing the previous record set in December last year. Gold prices in euro terms also hit a fresh all-time high of €969 an ounce in late trading in London on Tuesday, up almost 26 per cent since the beginning of the year. Tra...

Farallon Mining Ltd. recently announced new high grade gold zones outside the current mineral resource at the G-9 Mine at the Company's Campo Morado property in Guerrero State, Mexico. High grade precious metal intercepts at G-9 have been reported in various news releases over the years, most recently in the Company's December 16, 2009 news release in which an intersection of 13 metres of 20 grams of g...

  Eric Sprott, whose Sprott Hedge Fund increased more than fivefold in nine years, said gold may rise to $1,500 an ounce this year and $2,000 within two years as the U.S. government takes measures to counter the credit crunch. “With quantitative easing and the financial problems we have, I suspect that the gold price goes up from here,” said Sprott. “If you tell me how much quantitative easing there is, I’ll tell you where the gold price...

Speaking at the World Economic Forum in Davos, the Barrick chairman of the the world's biggest gold producer commented that while the gold price may be volatile, its upward climb is not over. "It may fluctuate, (but) to us and I think to our investors, the key criteria should be that it's got a secular tendency now to move up year in and year out" said Peter Munk. "While it may trade off in the two-week or three-month period, I think the trend ...

  As 2009 ended, Goldcorp emerged victorious in a takeover battle with Minera Penmont (44 percent owned by Newmont Mining Corporation with the remainder held by Mexican miner Fresnillo Plc.) to acquire Canplats Resources Corp.   The prize was Canplats’ Cami...

The Lundin Group of Companies is the principal shareholder of Newstrike Capital Inc. http://www.thelundingroup.com/s/Home.asp Internationally recognized as leaders in identifying superior investment opportunities in the natural resource sector, the Lundin group’s endeavors have led the development of several world class mineral deposits and significant gains for shareholders who participat...