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Widening Margins the Story for Gold Producers in Q3
Oct. 24, 2011 11:07AM PST
Precious Metals Investing
Forbes reported that gold miners are seeing the upside of higher gold prices and enjoying bigger margins in third quarter.
Forbes reported that gold miners are seeing the upside of higher gold prices and enjoying bigger margins in third quarter.
As quoted in the market news:
There are a couple of compelling reasons why profit margins are likely on the rise. Gold prices averaged US$1,706 an ounce in the third quarter, up 13% compared with US$1,509/oz in the second. The currencies of gold-producing countries, such as Canada and Australia, all depreciated against the U.S. dollar in the quarter, which should have a positive impact on costs.
