hard to track the price of gold. a lot of these miners have so much debt as well. we have gold heading back to 1120-1140 short term.
GG has the lowest cost of mining and still can't make a profit as a company. they probably need $1700 an oz to start making a dent in their debt. it's not going to happen
this is true but look at the miners, they track gold prices and a whole lot of them have a nice chuck of debt that will only be paid off if gold goes up. If it goes down from here. WATCH OUT
going to have to wait and see what happens next week. 1250 gold is a nice short term bottom and if gold breaks out above 1300, it's good for the big miners, they will have plenty of cash to service their debts going forward. my gut feeling is the fed won't raise with this ECB action, it will be sometime in the summer.