98 Percent Of Gold Industry Is Burning Cash Right NowVW Staff
The gold industry is in a difficult place right now. Since the April crash, the price of spot gold has remained in between $1250 and $1350 per ounce. Gold manufacturers were not expecting that cataclysm, and are having a hard time adjusting to the new price structure of the industry. According to a new Citigroup Inc. (NYSE:C) report, that's going to have negative effects for some time to come.