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World’s gold miners wary of production ramp-up despite price surge (Reuters)

“The real trap in the gold industry in the past was chasing volume,” Newmont Chief Executive Officer Tom Palmer told Reuters. Newmont’s budget this year is $1.3 billion, about half levels seen in the previous cycle. Gold Fields said it wasn’t rushing to change cut-off grades, the minimum grade that can be economically mined, despite the higher price. “It’s not easy to just turn the ship in a different direction,” Gold Fields CEO Nick Holland told Reuters, referring to boosting output…

Gold gains on weaker dollar, all eyes on Fed meeting (Reuters)

"The gold market is leaning towards the Fed's (policy)," said Stephen Innes, chief market strategist at AxiCorp, adding that the U.S. central bank might not change the current narrative, but there is a strong belief in the market that it would be able to trigger inflation. The lower interest rate environment and long-term expectations that the Fed is going to increase quantitative easing and weaken the dollar are supporting gold prices, he added.…

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