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.
A survey conducted by Kitco News indicates that 60% of industry respondents expect gold to rise next week after falling on reports that QE3 could be curbed and US job figures are improving.
The Kitco News Gold Survey found that out of 20 active survey respondents 12 expect prices to rise, seven see prices declining, while only one expects current levels to hold steady.
Participants in the survey included industry experts such as bullion dealers, investment banks, futures traders, money managers and technical analysts.
Bullish respondents believe loose monetary policies maintained by the world’s central banks will continue to lend major support to bullion prices.
The battering endured by bullion prices following news that Q3 could conclude “well before the end of 2013” nonetheless weighs heavily on the minds of some, with several respondents expecting that this could restrain gold prices for the rest of the year.
