 | | | Minesite Weekly Roundup 9th - 16th September 2013 | | | | Dear Minesite subscriber, What will the Fed's imminent announcement on tapering do to the gold price? It's widely recognised that a slowing of the printing presses is bearish for gold, but as the price droops ever closer to US$1,300, most analysts are arguing in their morning notes that the likely effects of tapering are already priced in. At least a mild form of tapering. The consensus is that this time round the rate of quantitative easing is likely to drop from US$85 billion to US$75 billion. Were the Fed to go for any extreme slowing, then the price would clearly fall further. But the Fed is not a body that is known for delivering shocks to market. The recovery in the US - and indeed globally - remains fragile, and caution is likely to be the order of the day, at least under the current incumbent. But as to who succeeds Ben Bernanke now that the leading contender Larry Summers has ruled himself out – that is an interesting question. Mr Summers' decision caused the dollar to fall, and stocks to move higher, as the market digested the news that the most ardent advocate of rapid fiscal tightening was no longer in the running for the top job. According to SP Angel, the news even brought buyers into the copper market. Long-term gold bulls will argue that the underlying strength is there whoever is appointed. But it's a jittery market, and clearly the new incumbent's views on tapering will be crucial for the immediate outlook for the gold price. Amongst the gold companies themselves, there is no consensus. Many directors expect further weakness. But there is some optimism as well. If there's any common ground, it's that the real challenge lies not in the potential for the gold price to go up or down, but in finding finance. | 95th Minesite Forum - 17th October 2013 |
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London EC1Y 4SD
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Presenting Companies Include:
KEFI MINERALS
KING RIVER COPPER
CONDOR GOLD
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| Jobs4mining in association with Minesite.com |
After a quiet few months, the job market has picked up a little this month. www.jobs4mining.com hosts the latest jobs in the industry.
Infrastructure Area Construction Manager – Construction, Mechanical, Civils, Process - Zambia
Concentrator, Process Roles And Process Maintenance – Africa and Eurasia
Risk Management Specialist - Johannesburg
Mine Planning Engineer - Ireland
Senior Mine Geologist – Copper, Gold - Laos
Site Controller – Russia – Finance/Supply Chain/Planning Key Parts Of The Role
People & Culture Superintendent - Oversee Management Delivery of Employee Svcs, Suriname
Coal Washing Plant Manager - Mongolia
Seminar - Streamlining Mining Permits is hosted in Johannesburg 14 – 17 October.
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