Bloomberg reported that the recent slide in gold prices is so severe that it may contribute to widespread bankruptcies, according to BlackRock Inc.’s Evy Hambro,
As quoted in the market report:
We need to see these costs taken out of the industry, we need to see the companies stop producing the ounces that don’t make money and focusing on the ones that do,” Hambro said in an interview with Francine Lacqua and Guy Johnson on Bloomberg Television’s “The Pulse” today. “For some it might be too late and bankruptcy might be around the corner.
To view the whole Bloomberg report, click here.
