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Commodities Briefing - Categorized | Bullion/Gold, Metals and Minerals, Price Watch more

30pct plunge in gold prices? Disaster for some gold miners

Posted on 09 August 2013

With the SPDR Gold Shares, the world’s largest ETF backed by physical gold, down nearly 24% this year, further significant retrenchment in gold prices may be a hard concept to fathom for some gold bugs.
As it is, with gold prices struggling to stay above $1,300 per ounce and move higher from there, profitability for some miners is threatened. Below $1,300 an ounce, speculation intensifies that even some of the large-cap miners will have a hard time profitably extracting the yellow metal from the earth. ……………………………………….Full Article: Source


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