Equities Gain ; The metal fell 23 percent to $1,291.27 an ounce in London this year

Equities Gain ; The metal fell 23 percent to $1,291.27 an ounce in London this year. It rose 9.4 percent since falling to $1,180.50 on June 28, reaching $1,300.88 on July 17. The Standard & Poor’s GSCI gauge of 24 commodities added 0.8 percent since the start of January and the MSCI All-Country World Index of equities gained 9.7 percent. Treasuries lost 2.6 percent, a Bank of America Corp. index shows. 

Gold reached a record $1,921.15 in September 2011 as the U.S. central bank, which is buying $85 billion of bonds a month, led nations in cutting interest rates and purchasing debt. The Fed could keep buying bonds for longer if “financial conditions -- which have tightened recently -- were judged to be insufficiently accommodative to allow us to attain our mandated objectives,” Bernanke said two days ago.

Gold futures rose, capping the second straight weekly gain

Gold futures rose, capping the second straight weekly gain, as Federal Reserve Chairman Ben S. Bernanke signaled that the pace of U.S. monetary stimulus probably will be maintained. Gold soared 70 percent from the end of December 2008 to June 2011 as the Fed kept borrowing costs at a record low and bought $2.3 trillion of bonds in two rounds of so-called quantitative easing. The metal climbed 1.3 percent this week. Gold futures for December delivery rose 0.7 percent to settle at $1,294 an ounce at 1:44 p.m. on the Comex in New York, the highest settlement since June 19. Last week, the metal jumped 5.4 percent, the most since October 2011.

The Biggest Mining group is expanding gold and base metal

The big Mining group is expanding gold and base metal tenement, as well as its global footprint, with the acquisition of its first offshore project, the Comval Project in the Philippines.

This mining company exited a trading halt this morning to announce it has signed a binding Heads of Agreement with Cadan Resources Corporation (TSX-V: CXD) to acquire an 80 percent interest in the Comval Project, which is prospective for copper and gold.

This acquisition has the potential to transform the Mining Group, as the Comval Project is located within the East Mindanao Ridge, which is a world class copper-gold province.

Mining Group is a newly listed gold, base metals and uranium mineral exploration and development company with three prospective projects in Western Australia.

The company listed on the ASX at the beginning of July with a positive debut after raising $2.5 million for the exploration of its Western Australian projects, and for the identification and evaluation of complementary projects.During the September 2011 quarter, Mining Group commenced field exploration at its Boorara and Teutonic Projects.