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Reuters reports that Gold Fields (NYSE:GFI), the world’s fourth-largest listed gold producer, posted lower-than-expected quarterly profit but forecast higher gold production for the 2011 financial year.
Reuters reports that Gold Fields (NYSE:GFI), the world’s fourth-largest listed gold producer, posted lower-than-expected quarterly profit but forecast higher gold production for the 2011 financial year.
The market news is quoted as saying:
The price of gold in the three months averaged a record $1,246 per ounce, up $51 per ounce or 4 percent on the previous quarter. South African gold producers sell their gold in dollars and pay their costs in rand.
