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Tag: Newmont Mining

Where has all the Gold Gone?

Where has all the Gold Gone?

The total amount of gold available for delivery on the COMEX has fallen to a record low. There are now up to 50 owners for every ounce of gold available for delivery. The total amount of gold available for delivery in COMEX warehouses currently totals around 774,000 ounces, or 24 tons; 29 tons were requested for delivery in July. With the August delivery date coming up someone should start getting worried. It would appear that buying gold nowadays does not…

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Gold is Getting Close to the Red Zone

Gold is Getting Close to the Red Zone

Rising costs have been the biggest headache for gold mining companies over the past few years. While the price of gold was rising, this was not a problem but now the price is falling this could start to cause some serious problems for the miners. All-in production cost of gold – full year guidance: Company All-in cost ($/oz) Goldcorp $1,000-1,100 Newmont $1,100-1,200 Barrick $1,000-1,100 Agnico $1,075 Kinross $1,100-1,200 Meanwhile, the price of gold could have further to fall… If the…

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