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Analysts at RBC Capital think
for some top gold miners are a strong possibility. There's a “moderate probability” Barrick Gold (ABX
) could trigger a one-notch downgrade at $1,400 gold; at $1,300, Newmont Mining (NEM
) could get downgraded, and Kinross Gold (KGC
) could get cut right to junk status. TD Securities also offers similarly disturbing conclusions. (
View news story
I'm not sure what the total cost of production is in China and Russia in dollar terms so I am waiting for word from them.
Wonder if the Shanghai Cooperation Organisation could set up an Exchange and set up an a.m and p.m gold fix for London Good Delivery physical gold in Shanghai or somewhere.
If they set the price at $2000 for physical gold London Good Delivery for starters then the physical would start to flow like crazy eastward.
Apr 16, 2013. 04:51 PM
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