Gold News Around the Web

A lot of news on gold was around the web today, as futures fell sharply on Thursday, and a number of godl companies made announcements concerning dividends, seeking partners and opening up of mines again.

Here's the top gold stories:

Gold drops sharply following record Wednesday

Gold futures fell sharply Thursday, pulling back after surging to a record high over $995 an ounce in the previous session, as traders locked in gains.

Gold for April delivery fell $11.40 to end at $977.10 an ounce on the New York Mercantile Exchange.

"It seems like another instance of the long side paring back positions because of the worries in the equities markets," said Zachary Oxman, a senior trader at Wisdom Financial.

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Dollar, Gold Fall in Europe

Gold traded in London at $982.20 per troy ounce, down from $984.45 late Wednesday. In Zurich, gold was unchanged at $982.65 bid per troy ounce.

Silver traded in London at $20.46, down from $20.49.

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Gold retreats from record high as oil prices soften

Gold retreated from record highs on Thursday as oil prices slipped, but the precious metal held within striking distance of $1,000 a troy ounce as the dollar struck an all-time low against the euro.

Spot gold jumped as high as $991.90 an ounce and was quoted at $984.40/985.70 at 1603 GMT, up from an earlier low of $959.45, but below the $985.70/986.50 late on Wednesday.

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Gold's glitter lures buyers, even near $1,000

Gold's near vertical climb to historic highs approaching the key $1,000 mark shows no sign of abating as bullish forces such as a sinking dollar and record high oil are not seen fading anytime soon.

Fears that expensive oil will stoke inflation combined with worries over potential stock market losses and the U.S. on the brink of possible economic recession will propel gold higher still, analysts say.

"Don't be surprised to see gold trade up to $1,100 (an ounce) or even $1,200 before year-end 2008," said Jeffrey Nichols, managing director of American Precious Metals Advisors.

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Yamana Gold Declares Quarterly Dividend

YAMANA GOLD INC. (NYSE: AUY) today announced its first quarter dividend of US$0.01 per share. Shareholders of record at the close of business on Monday, March 31, 2008 will be entitled to receive payment of this dividend on Monday, April 14, 2008. The dividend is an "eligible dividend" for Canadian tax purposes.

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Barrick's Wilkins Seeking Russian Partner for Gold-Deposit Bid

Barrick Gold Corp., the world's largest gold producer, is seeking a Russian partner for a venture to develop mines in the country and bid for its largest untapped gold deposit.

Barrick would accept a minority stake in a Russian joint venture, Chief Executive Officer Gregory Wilkins said today. The partnership would be used to try to secure rights to the Sukhoi Log gold and silver deposit when it comes up for government auction, he said.

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Eldorado Gold Corporation: Kisladag Mine Re-Opens

Paul N. Wright, President and Chief Executive Officer of Eldorado Gold Corporation (TSX:ELD), is pleased to announce that earlier today, March 6, 2008 its Kisladag mine in Western Turkey re-opened and that production activities are underway.

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