Gold price slips as traders weigh outlook for Fed interest rate cuts
Bullion traded near $2,626 an ounce in thin trading after closing 1.1% higher on Friday.
Thousands of protesters marched Saturday in the northern Greek city of Thessaloniki against what they believe are environment-threatening gold mining projects, owned by Canadian Eldorado Gold Corp, (TSX:ELD) (NYSE:EGO).
According to AFP, protesters carried a banner reading “Toxic dust doesn’t have boundaries. No to gold mines” in Thessaloniki while in Athens, 500 gathered.
Vancouver-based Eldorado through its subsidiary Hellenic Gold is involved in four gold projects, with the largest of them on the Halkidiki peninsula, the focus of protests. he tourist area.
More than 200 people in the Halkidiki tourist region are due in court on criminal charges connected with the demonstrations according to AFP.
6 Comments
Fritz Fitton
If Greeks want to ban mining development, the rest of Europe shouldn’t be bailing them out. I’ve been to Parama Hill near Sappes where the proposed mine site is and am sure a modern mine there would do little harm but it would provide many real jobs and improve the moribund Greek economy.
fanny may cartwright
Oh pul-ease, Greece’s big mistake was joining the E.U. to begin with; seduced by a bunch of self-serving Babbits and western chamber of commerce types who imagine, and continue to imagine (apparently) that their consumer dystopia is the ultimate in human achievements. I wouldn’t worry about Greece, they’d seen it all when northern Europeans were still woad-covered head-hunters, and whose social advance since then is to leave off the woad…
babizz
Mining should be continued but Fritz in fact a few jobs wont save the moribund greek economy
Remember TVX
This is not about the environment but anti-western values (such as time value of money & productivity).
fanny may cartwright
See my response to Mr. Fritz Fitton, eh?
Madskul
Why mine when you can (could) live on government handouts ? They don’t want industry because then they would have to do REAL work and not just sit behind a desk eating olives and quaffing uozo while accumulating Euros for pushing paper around. Well THAT game is now over for the Greeks !!! They are learning that the final result of their entitlement culture is that they are entitled to starve.