Gold Price Monitor Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Gold Price Monitor

GDXJ 96.06

-1.4%

4:00 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: scotty who wrote (61295)	11/24/2000 10:37:58 PM
From: Alex	Read Replies (1) of 116762

Gold miners urged to talk to central banks D Kinch Metal Bulletin, 20 Nov 2000, p 12 Gold producers are being urged to talk to the world's central banks in order to stabilise the gold market before the renegotiation of the Washington Accord in 2004. The Washington Accord, which allows central banks to sell up to 400 t/y of gold, is accused of keeping gold in the doldrums. Gold producers need to participate in the downstream marketing of their product in order to boost its image. Despite recent mergers and acquisitions, there appears to be further room for consolidation in the industry. The world's top ten gold producers are responsible for 41% of total output, compared to the copper industry where three companies produce 35% of the world's copper. To combat the impact of low gold prices, the world's top ten producers have reduced cash costs to an average of $188/oz in 2000, and nine of these producers reported profits in 1999 despite the fall in share values. Consolidation on its own is not enough to help the industry. Producers also need to work more closely with the jewellery industry, which is the gold industry's major market.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next