Gold mining sector is in shambles. A cleansing of the market might not be such a bad thing…

Gold

Profitability (or lack there of)

The gold mining industry is in dire need of assistance. The sector, which is recovering from one of the worst price dips in the last 30 years, is not exactly in the best of health.

According to Joe Wickwire of Fidelity Investments, almost 33 percent of all gold production is a money-losing venture if the precious metal price is lower than $1,250 oz…
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