munchy
The gold price will do what the Chinese and Indian (and other moslem/Asian) buyers decide, rather than what western bankers want to see. The views of GS analyst is far too US centric, when in fact the POG is determined by demand from other countries. It would be a different story if the US/Europe had a high inflation rate combined with negative real interest rates (as in the 1970s).
However, it does look like Chinese demand is being impacted by banking liquidity constraints being imposed by their CB and that many firms are actually unprofitable. plus there are a lot of non-performing loans. Indian demand has not recovered to its former level achieved prior to import restrictions/duties imposed last year, but that could change later this year after the national elections.
So these analysts could be correct for now but for reasons other than what they have given.
It looks like RSG's CEO is awake enough not to put more money into Bibiani without first doing more due diligence and will not proceed with NMG's open pit proposal at the main site, but instead will look to access ore by an underground mine (if economically feasible).
loki
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10 | 155499 | 0.510 |
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Price($) | Vol. | No. |
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