Unsustainable gold prices

Posted | 25/06/2013 / Views | 1962
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The world’s largest gold miner, Barrick Gold, yesterday announced a range of job cuts and possible mine closures to its various mines around the world as the price of gold makes profitable operation difficult. This is on top of other similar recent announcements such as Newcrest and Newmont. As in April/May we will no doubt soon see, once data is available, the central banks of the east buying up at these low prices, and there must be a real supply issue looming...