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

Gold industry bust at $1 300/oz, says Randgold’s Bristow

Posted on 03 July 2014

The gold mining industry was fundamentally broke at a gold price of $1 300/oz, Randgold Resources CEO Dr Mark Bristow said. Bristow said the industry was unable to make returns at that low level of gold price range.
The consequences would be a reduction in the supply of gold, which would ultimately push the gold price higher, as physical demand was definitely present. The crystal ball that needed to be studied was the extent of damage the industry would need to experience to reduce supply to drive up the gold price and rescue the rest of the industry………………………………………..Full Article: Source


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