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South Africa unrest to affect gold bullion supply and support gold price

Posted on 28 September 2012

Gold will continue to be supported by the ‘US Fiscal Cliff’ which is the US government deadline to agree on a plan to decrease the federal budget or trigger $600 billion in spending cuts, which will create austerity for the people and a huge knock to an already unstable US economy.
In South Africa, gold mine strikes ceased nearly 39% of production, at AngloGold Ashanti Ltd. (ANG) and Gold Fields Ltd. (GFI), as labour walkouts spread across the country amid demands for above-inflation pay increases………………………………………..Full Article: Source


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VRS - who has written 37608 posts on Opalesque Commodities Briefing.


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