Amid a currency and credibility crisis The People's Bank opts for transparency by updating its official gold purchases – only the second time since 2009.
As fear-blinded traders rushed for the gold-stock exits, they claimed their selling was rational because gold miners’ very existence was threatened by such low gold prices. But that’s a total fallacy, this sector has no problem weathering sub-$1200 gold.
Two experienced mining financiers are making a $4.7 million bet that one of the world’s largest and most controversial minerals deposits is about to turn a major corner.
JP Morgan Cazenove says Swiss commodity trading giant has to start off-loading inventory to slash its $48 billion debt pile and keep its credit rating.