Zijin Mining to take 9.9% stake in Montage Gold
As part of the deal, the Lundin Family Trust also agreed increase its stake in the company from 17.7% to 19.9%.
Rising inflation in China and India’s tenth interest rate hike since March 2010, is set to take a toll on consumers preference for the yellow metal, according to analysts and traders.
“Gold and silver will surely get pummelled in the near term with signs of a stronger US dollar and yet another rate hike in India. Investors have very little savings these days and prefer not to invest in gold,” said Manoj Maheswari, bullion analyst at a brokerage firm here.
