ACG to raise $200m in bonds to finance Turkey copper mine
The funds will be used to transition the Gediktepe mine to copper and zinc concentrate production from gold and silver.
Gold fell again today – to $1,581.39 USD/oz.
Gold has dropped 5% in the month of February, the fifth straight month of losses.
ETF holdings of gold are a big part of the story.
An exodus from the world’s largest gold-backed exchange-traded fund, SPDR Gold Trust has continued into a seventh consecutive month, which is the longest period of net outflow in the history of the fund.
US equities gains on the back of increased economic optimism. Earlier this week, Fed Chairman Ben Bernanke used only mild language in support of the bank’s asset purchase program know as quantitative easing.
