Fed tests gold upleg
Gold’s outlook and fundamentals remain really bullish.
South Africa’s National Union of Mineworkers (NUM) wants a 15% wage increase across the board for employees in the gold mining sector, as well as minimum pay of 15,000 rand ($1,065), the union said on Thursday.
Soaring global gold prices over the past year have seen earning by gold firms surge, but the companies have argued that above-inflation increases are unrealistic.
In the statement NUM said it expected firms to “come up with many excuses”, and that they would respond “with the required militancy”.
(By Mfuneko Toyana; Editing by Jan Harvey)
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