Two-tier gold industry emerging as gold falls

[miningmx.com] – THE world’s gold market was developing two tiers consisting of companies with good assets and lower costs, and those with stretched balance sheets and poor assets, said Bloomberg News.

“Investors are looking through the so-called carnage and are holding onto the top tier and are dumping the second tier,’ John Ing, CEO at Maison Placements Canada told Bloomberg News.

When the price of gold fell below $1,137 per ounce earlier this week, it was below the costs of seven out of 19 gold producing companies tracked by Bloomberg News including Harmony Gold, the South African firm.

Click here to read the full article