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Jaira Caro



Member since May 30, 2013

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    We explain the best ways to invest in gold through funds, Exchange Traded Commodities (ETCs), bullion and coins. The first pure gold coins were struck by King Croesus of Lydia (present-day Turkey) during his reign between 560BC and 547BC - and gold coins have continued as legal tender ever since. Many years down the line, investors still love gold and the precious metal has proved a valuable winner in recent years. Going for gold: The precious metal has cooled after a spectacular rise, but investors say it is still one for the long-term. Update: Gold's recent run Gold hit record highs in September 2011, yet never went on to crack the $2,000 an ounce mark widely forecast at the time The spot gold price, which is typically measured in US dollars, hit a peak of $1,920 during that month. Some tipped it to soar beyond $2,000, but instead gold slipped and spent most of 2012 stuck in a range, shuttling back and forth between around $1,600 and $1,800. A sell-off since December 2012 has seen gold drop as share prices have climbed. The spot gold price stood at $1,571 or £1,040, at the start of this month. The dramatic falls of the past few days sent it down below £1,000 to £899 on 15 April. At $1,370 gold is down 29 per cent on the peak. However, gold bugs - as the precious metal's fans are called - say that bullion's recent dip has to be put into context. Look at a long-term chart of the gold price and you will see that even having lost almost a fifth from its peak, it is still up sub...

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    Tana Goldfields United Kingdom

    Scotgold Resources said the project remained viable and would generate a cashflow of more than £39m before tax over its first seven years of operation, at current gold prices.

    But it warned that the fluctuating price had dented market confidence.

    As a result, Scotgold said it had decided not to seek further funding for the scheme until conditions improved.

    A study has predicted that once operational, the mine could produce up of 20,200 ounces of gold a year.

    At current prices, that would give the Cononish project a rate of return of about 37% before tax and see the initial investment repaid within 26 months of the start of production.

    However, Scotgold said the market remained wary after gold prices fell by more than 9% at the beginning of April, the biggest drop for 30 years.

    Challenging market The depressed market has made the company reconsider plans to seek additional funds to bring the mine into full production.

    Executive chairman John Bentley said: "The recent sharp decline in the gold price has severely dented market confidence, albeit that there has been significant positive movement since the lows recorded on 15 April 2013.

    "The potential to raise the required equity financing for the project is considered to be severely challenging under current market conditions.

    "The board has thus decided to defer an immediate raise pending an improvement in market sentiment."

    Mr Bentley said the firm would now not b...

My Interests

  • Industrial Design
  • Environmental Design
  • Communication Design
  • Fashion Design
  • Audio/Visual Design