- Published: Monday, 20 October 2014 10:43
- Written by Steve Fiscor
By Steve Fiscor, Editor-in-Chief
Market fundamentals are working against miners. Investor confidence, especially with the U.S. equities market, and an improving sentiment toward the U.S. economy are driving precious metal prices lower. According to the E&MJ Price Index (below), gold closed at $1,214.30/oz on October 2–its lowest level for the year. If the trend continues, and in all likelihood it will, gold will fall below the $1,200/oz threshold. Gold started the month trading at $1,289.30/oz and lost $74.90/oz during the month or 5.8%.