Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
Spot gold leapt to $1,340.25 per ounce as of 11:28 a.m. ET gaining 2% to start the week.
Silver is also up 4% to $21.35 per ounce.
Major gold miners are partaking.
This morning Barrick Gold (NYSE:ABX) is up 5.76% to $18.42 and Goldcorp (NYSE:GG) gained 6.37% to $28.90.
Creative Commons image from NASA showing a magnetic launch assist demonstration test
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