Gold

Gold has risen to a record high for the fourth straight session, as inflation worries and euro zone sovereign debt woes continue to lure investors to precious metals.

West African-focused gold miner Randgold Resources has posted lower-than-expected production in the third quarter, although it expects output to rise significantly in the fourth quarter.

Randgold Resources will coin it if gold stays at levels above $1,400/oz, according to CEO Mark Bristow, who says the extra cash is likely to be paid out in dividends.

Gold has soared past the $1 400/oz for the first time after the World Bank president called on bickering nations to bring back the gold standard.

Gold's record-breaking climb should continue for at least six months, corresponding to the planned duration of the USA's monetary stimulus, according to an analyst poll.

Pan African Resources hit a new 12-month high on the JSE on Friday following the announcement that the Phoenix platinum project should be in full production by the end of next year.

Gold Fields has merged its flagship Kloof and Driefontein mines, shedding 115 top management jobs in the process, as it looks to lower costs and improve profit margins.

Gold Fields wants to bring a strategic partner on board and tie up a supply offtake agreement before pushing the button on its proposed uranium project.

Absa Capital is in talks to list its gold-backed exchange traded fund in a number of African countries.

Harmony Gold's ambition of mining 1.7 million oz in its new financial year has hit an early setback as the group reported production figures of 336,650oz for the first quarter.