Gold price seen near tipping point for mine cuts and closures

Section:

But having no idea of the monetary nature of their product and how it is priced by central bank market rigging, mining company executives can do no more than wring their hands and screw their stockholders.

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By Nicole Mordant
Reuters
Thursday, September 25, 2014

VANCOUVER, British Columbia -- The price of gold, down more than a third in three years, is approaching the tipping point where the mining industry would see a spike in the number of producers reducing output or even shutting down operations.

Several mines globally have already suspended output in the past 18 months, but not as many as industry watchers expected as producers focused on slashing costs and reworking mine plans to extract more profitable, higher-grade ounces.

But with bullion's slide this week to a nine-month low of $1,208.36 an ounce, those defenses may not be enough. ...

... For the remainder of the report:

http://www.reuters.com/article/2014/09/25/us-gold-mining-outlook-analysi...


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