Gold Prices Need To Move Higher, Reserves Aren’t Being Replaced

[youtube hfgW3Q9_Y5E]

Kitco News speaks with Bear Creek Mining chairman Catherine McLeod-Seltzer to see how she sees the industry set up for 2015. “A lot of write-offs were taken in the industry,” she says. “But I think people are ready for a fresh start. They see reasons why metals prices have bottomed and may start to move up,” she adds. According to McLeod-Seltzer, the industry is just in a cycle and she thinks it has bottomed. “The price has been within a range quite stable, so I think that’s part of the bottoming process. And I do know that we consume 90 million ounces a year of our reserves as an industry, and we’re not replacing them,” she says, adding that prices need to move higher in order to support the struggling mining companies. Tune in for more coverage from the BMO Metals & Mining Conference. Kitco News, February 27, 2015.

Don’t forget to sign up for Kitco News’ Weekly Roundup – comes out every Friday to recap the hottest stories & videos of the week: www.kitco.com/newsletter

Join the conversation @ The Kitco Forums and be part of the premier online community for precious metals investors: http://kitcomm.com — Or join the conversation on social media: @KitcoNewsNOW on Twitter: http://twitter.com/kitconews — Kitco News on Facebook: http://facebook.com/kitconews — Kitco News on Google+: http://google.com/+kitco — Kitco News on StockTwits: http://stocktwits.com/kitconews

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.