Which US presidential candidate does gold prefer?
Gold loves chaos and should be hitting new highs, especially with inflation coming down and with it, two rate cuts likely before year’s end.
Wildcat strikes across the South African mining industry prompted by the killings at the Marikana platinum mine more than a month ago continued on Wednesday, threatening the economic stability of the country and the profitability of its resource sector.
Fin24 has a choice quote from Mamphela Ramphele, anti-Apartheid activist, academic and Gold Fields board member, who was speaking at a Cape Town leadership conference:
“We’ve just had this tragic Marikana debacle, and what was in evidence there is the consequence of South Africa failing to transform the mining industry from a 19th century business model, which relies on cheap migrant labour, very archaic mining technology and a… low-skilled, labour-intensive industrial base.”
