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Is the cost of mining gold increasing?
*Financial Times, by Chris Flood, March 13, 2007
“Gold traded at $650.10 a troy ounce, helped by strength in the oil market. South Africa’s gold output fell by 8.9 per cent year-on-year in January, continuing its weak run. Last year, South Africa’s gold output sank to its lowest level since 1922 as the average grade of ore mined continued to decline. The industry is being forced to mine at ever greater depths and higher temperatures as established resources become exhausted.”
*This information is solely a highlight of the opinion of a third-party publication and is incomplete. Please subscribe to this publication for the full and timely opinion of the author and call a Monex Account Representative for any additional up-to-date information. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.