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Gold miners face another round of cost cuts suggests Goldman

Posted on 26 November 2013

Gold miners have worked hard to cut costs to offset a falling gold price, but Goldman Sachs expects the price to fall again in 2014 leaving them with limited options. According to the US broker, cost cutting initiatives undertaken by the gold companies it covers have led to many mines with cash costs now below the spot gold price.
Goldman, though, expects the spot price in 2014 to fall to $1,144/oz, at which level more than 50% of these miners would burn cash………………………………………..Full Article: Source


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