| Gold prices in China – the world's No.1 gold mining, importing and consumer market – held firm overnight, fixing at the Shanghai Gold Exchange little changed from before the weekend, but edging down to a $2.85 per ounce premium above comparable Dollar quotes for metal settled in London.
"To keep the gold industry supplied we need to discover 90 million ounces a year," said gold mining CEO Mark Bristow of Randgold Resources to journalists in Johannesberg yesterday, " [but] we are only discovering 10 million to 15 million ounces a year. "We either have to discover more quality ounces or reduce the life of mines.".........................................Full Article: Source
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