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Kitco News talks with Peter Grandich, Editor of the Grandich Letter, about the dismal mining industry as it struggles to survive. According to Grandich, some exploration companies have been hit hard and investors just have no incentive to rush back in. Investors have turned to gold-backed ETFs, and although they have added to the recent weakness in the metal, they have helped boost physical demand for bullion. Grandich claims all the signs indicate the sector is at the bottom and he can’t imagine the situation getting any worse. That said, Grandich concludes by saying that the worst is over if gold sees a few closes at $1,550 and it may then reach $2,000.
Read the full article at: http://www.kitco.com/reports/KitcoNews20150513SB_mining_peter_grandich.html
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As well as the most accurate precious metal prices online, Kitco also provides up-to-the-minute news with usable market information. Videos provided by and © Kitco.
As well as the most accurate precious metal prices online, Kitco also provides up-to-the-minute news with usable market information. Videos provided by and ©
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