| BMO Capital Markets warns miners should prepare for a “prolonged period of sub-US$1,200/oz gold prices.” As a result, “many of the gold producer equities will struggle, especially those with higher cash costs and/or high debt loads,” cautioned BMO Nesbitt Burns analyst Jessica Fung in a report issued October 7th.
“Gold, silver and platinum prices remain under considerable pressure due to expectations for the U.S. dollar to continue strengthening,” Fung advised. BMO has lowered 2015-16E gold prices from $1,275 to $1,190 in 2015 and from $1,250 to $1,238 in 2016 to reflect recent price performance, adding “BMO Research does not expect any upset for gold from current levels until H2/16E based on U.S. dollar forecasts.”..............................................Full Article: Source
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