China wants to secure its geopolitical strength by convincing the world to grant the yuan reserve currency status. The country has been manoeuvring quietly, integrating itself into global finance and buying up gold to hold as reserves. http://www.profitconfidential.com/gold/currency-war-between-china-and-south-korea-could-send-gold-soaring/

Russia’s gold reserves rose to 42.4 million troy ounces as of September 1 compared with 41.4 million troy ounces a month earlier, the Russian central bank announced on Friday.
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The world’s second largest gold mining nation, Australia, saw gold output rise in the June quarter according to a survey by Melbourne-based consultancy, Surbiton Associates.

Gold production for the period totalled some 72 tonnes (2.31 million ounces), an increase of almost three tonnes or four per cent over the March 2015 quarter. With most Australian miners having June year-ends, Surbiton puts the fiscal year total (to end-June) at 285 tonnes. Read full article at http://www.miningaustralia.com.au/features/australian-gold-levels-jump

GOLD stocks were strong today despite wider market weakness after the Comex price rose slightly overnight and the local currency dropped today. The Australian dollar spot price is currently above $A1532 per ounce.
http://www.miningnews.net/storyview.asp?storyID=826954103&section=Final+Call&sectionsource=s191&utm_medium=email&utm_campaign=mnn+final+12082015&utm_content=mnn+final+12082015+CID_f926cf6219bb0b718af2038e42e0b4d4&utm_source=Campaign+Monitor&utm_term=Gold+a+bright+spot

Alkane Resources (ASX:ALK) production from the Tomingley Gold Operations held steady during the June 2015 quarter, helping full year production to reach 69,612 ounces – which is within the annual guidance of 65,000 – 75,000 ounces.

Full year sales of 70,734 ounces provided revenues of $101.9 million at an average price of A$1,441/ounce, as at end of June 2015.

Cash flow for the June quarter after site operating expenses and development expenditure was negative A$0.5 million, but delivered an impressive positive $23.7 million for the full year.

Total operating costs for the year were higher than anticipated at A$1,249 an ounce.

Adding interest the recent fall in the Australian dollar has gold trading in excess of A$1500 an ounce during July, therefore providing an additional margin of up to A$100 an ounce for the start of FY16 over the average for FY15. Read full article

URUCUM UNDERGROUND UPDATE pdf download

FD1410
Lode 1 23 m @ 4.92 g/t including 5 m @ 20.32 g/t
Lode 2 5 m @ 2.76 g/t
FD1409
Lode 1 2 m @ 17.31 g/t gold Lode 2 20 m @ 2.00 g/t gold FD1406
Lode 1 25 m @ 2.29 g/t gold including 17 m @ 3.13 g/t gold
Lode 2 22 m @ 2.75 g/t gold including 18 m @ 3.25 g/t gold
FD1405
Lode 1 8.75 m @ 4.38 g/t gold including 5 m @ 6.7 g/t gold
Lode 11 12 m @ 4.81 g/t gold including 7 m @ 6.70 g/t gold

Beadell Resources Limited (“Beadell” or “the Company”) is pleased to announce significant new drill results from Urucum Underground at its 100% owned Tucano gold mine in Brazil (Figures 2 & 3, Table 1). Surface diamond drilling targeting Urucum Underground continues to intersect high grade results beneath the open pit reserve showing excellent continuity of the recently identified lode plunges. The drilling is targeting an initial underground reserve in the 200-400 m vertical area beneath the Urucum North open pit with a Pre-Feasibility to be completed by end of 2015. New results have been received from Lode 1 and Lode 2 which form two subparallel shear zones separated by approximately 10-20 m. Another parallel footwall lode was intersected in FD1405, Lode 11.

China is oversupplied with gold, according to one analysis — only the Chinese don’t seem to be in on this news.

Otherwise why would they be in the process of setting up what will be the world’s largest fund in terms of physical gold held, eventually to grow to $US16 billion ($20.9bn) worth of the yellow metal? Or indeed why would they have entered big deals over the past week to get a foothold in Papua New Guinea and Siberian gold production? Read more