Union files complaint against Orla Mining, alleging violation of worker rights in Mexico
The complaint is only the second of its kind made from Canada using CUSMA’s RRM process since the trade deal came into force in 2020.
On Thursday gold continued to drift lower following Tuesday’s crash through the $1,300 an ounce level to its lowest since June, before the Brexit vote lit a fire under the metal.
In early trade December futures trading on the Comex market in New York touched a low of $1,265.10 an ounce, the fifth down day in a row.
Diego Parilla, managing director and head of commodities at Old Mutual Global Investors, told Bloomberg’s Rishaad Salamat on Trending Business, that the bubble in government debt and equities, the extended period of very low and now negative interest rates in developed markets could only end in pain for investors.
Parilla calls it a monetary supercycle and the excesses of financial inflation would lead to an appreciation in the gold price of “several thousands of dollars”:
4 Comments
C Gilroy
He speaks about “limits”. I don’t think anybody knows what the limits are. If a “bubble” lasts 10 years or more, is it a bubble? He must be long lots of gold.
Ray Kodiak
I am long too but I dont believe when someone says, that something will go up by thousands… anywho 😉
dale
the thing is……..if gold hasnt already skyrocketed with all the BS thats in the system…all the money thats been printed and the low rates for this long…..what could possibly make gold go that much higher? is it just because we hate everything that somehow gold feels like a savior? something we can count on to save the smart people at the end? i dont think its gonna work out that way. there is no way that the powers that be on this earth will allow gold to be used in anyway……i think people are starting to realize this….and thats what is keeping gold tame. there is no way it will be of any use to anyone when the global system comes to power.
Franz Frohnau
Good article. The system has max 6 till 18 months. Everybody should
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