Gold hits an all-time high and Gabriel Resources loses $4.4 billion damage claim

Gold's run is having limited benefit for gold miners, noted mining audiences manager Michael McCrae.

On Saturday, McCrae recorded Kitco Roundtable.

After an impressive seven-day rally, which pushed prices to an all-time high of $2,203, the gold market could see some consolidation in the near term, writes editor Neils Christensen. Profit taking and the lack of any near term catalysts could dampen gold's run going forward.

Gold's run has had muted impact upon gold equities. Although gold companies are up 9% this month, they are still down for the year and more than half their all time high early last decade.

According to a report by Reuters, the Romanian government said on Friday it won an arbitrage trial filed by Canada's Gabriel Resources (GBU.V). The company planned to build Europe's largest open pit gold mine in the western Romanian town of Rosia Montana.

Gabriel Resources had sought at least $4.4 billion in damages from Romania.