Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Gold traders saw the precious metal lose over $60 in value today after gold dipped below $1,740 in afternoon trading.
Yesteray gold broke through $1,800/oz.
While gold was down, markets were up on strong corporate earnings and good U.S. job’s data. The Dow Jones was up 5.16% and the S&P 500 was up 5.76%. The Canadian markets were up modestly. The resource-heavy S&P TSX rose 2.16%.
Cisco brought in earnings on Wednesday night that were stronger than expected. The US Labor Department reported that initial jobless claims fell to 395,000. Analysts had been expecting a higher number of jobless claims.
3 Comments
MINING.com Editors
It looks like gold will be going lower. There is a lot of profit taking.
MINING.com Editors
Let’s see if corporations can keep delivering strong earnings.
Michael Allan McCrae
It was good to see a better jobs report.