Filed under: Major Movement , Competitive Strategy , Barrick Gold (ABX) , Commodities , Federal Reserve Back in the late 1970s, the Hunt brothers from Texas tried to corner the silver market . That drove prices to $48 an ounce. Now, 31 years later, silver is shooting higher again. The March silver futures contract closed at $32.296 per ounce , up 72 cents. Since gold is expensive, investors are turning to silver to hedge against inflation. Many fear that the Federal Reserve will not be able to control the spike in commodity prices. The Fed is buying $600 billion of treasuries and keeping interest rates near zero. Continue reading Silver Near a 31-Year High Silver Near a 31-Year High originally appeared on BloggingStocks on Sat, 19 Feb 2011 12:50:00 EST. Please see our terms for use of feeds . Permalink | Email this | Comments
Ballarat Mine
Lihir Gold (TSE:LGG) Sells Ballarat Mine
Lihir Gold (TSE:LGG) (Nasdaq:LIHR) announced it has completed the sale of its Ballarat mine to Castlemaine Goldfields Ltd. In March Lihir let it be known they were going to close the mine and reached a deal with Castlemaine to sell them the mine for $4.5 million in cash and another 2.5 percent royalty interest in the mine up to $50 million in future production. Castlemaine has stated in the