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Gold prices below $1,200 could mean production cutbacks: World Gold Council

Posted on 05 February 2014

If gold dips below $1,200 per ounce for a “sustained” period, serious production cutbacks are likely, World Gold Council representatives warned Monday.
The average industry cost of production is $1,200 per ounce, according to the council, which cited recent Thomson Reuters data. About 30 percent of the gold mining industry becomes unprofitable if prices fall below that threshold, the council estimates………………………………………..Full Article: Source


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