Newspaper article The Journal (Newcastle, England)

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Newspaper article The Journal (Newcastle, England)

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SUNDAY TELEGRAPH THE gold price has slumped from its record high above pounds 1,200 an ounce to around pounds 950 now.

The price has not been so low since July 2011. Gold has slumped as the dollar has risen, with the continuing eurozone crisis prompting a flight to the US currency.

The dollar and gold have an inverse relationship. A strong dollar makes gold more expensive in other currencies.

Randgold Resources' expansion plans should lead to a significant rise in profits this year. Last year, Randgold mined 696,023 ounces of gold and guidance for 2012 stands at between 825,000 and 865,000 ounces.

The company's growth projects include the continuing expansion of Loulo, Mali. It is also developing a new mine in the Democratic Republic of Congo. Randgold has a 45% stake in the Kibali project. All of this should ensure production continues to rise.

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