Hedge funds slash bullish wagers on gold over Trump election win
The precious metal has fallen about 8% from a record high on Oct. 31, with losses accelerating after Trump’s election victory last week.
The job outlook in the Canadian mining sector is off its heady highs from just a year ago, according to a hiring survey released today by the human resources firm Manpower.
The net employment outlook, a survey of employers who plan to hire, is at a moderate eight percent for miners compared to an overall 12% across all industries in Canada. The outlook in the mining sector in the same quarter a year ago was over 20% a year ago.
Overall about 20% of Canadian employers will increase their payroll while five per cent anticipate cutbacks and 75% plan no change. Over 1,900 employers were surveyed.
The outlook was better in the West due to an upbeat hiring climate from April through June. Ontario and Quebec will see more modest gains.
Declining gold prices and lack of financing has been hammering miners.
Creative Commons image of the Creswell Colliery by Dunc(an)
