Half of the Gold mining industry is losing money:Paolo Lostritto

From an all-in sustaining cost perspective, the Q3/13 perentile is around US$ 1050. That means 50% of the industry is losing money, not from a growth perspective, but from a sustaining basis at US $1050/oz and above. it was US$1,200/oz in Q2, 2013.

Paolo Lostritto said that Gold prices could go higher in the long term but remain weak on deflationary trends in US economy which is bad for gold "That will change only when the velocity of money starts to improve, leading to better capacity utilisation, which translates to hgiher inflation expectations. It will take time for those signals to align," he added.

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