Jobs moving gold shifting
Some of gold’s most-volatile days erupt after monthly-US-jobs data is released.
The total value of Western Australia’s (WA) minerals and petroleum industry in 2012-2013 was $102 billion, down moderately from the year before.
Declines in the price of gold and the Australian dollar were blamed for the roughly $4 billion drop in value from 2011-2012 to 2012-2013.
Iron ore accounted for $56 billion of total mineral sales. Petroleum accounted for $24.5 billion and Gold for $9 billion.
Despite a severe slowdown in mining activity, WA “still has an estimated $146 billion worth of resource projects under construction or in the committed stage of development.”
