Air Pollution

Gold mines are usually large-scale operations, with heavy machinery and large vehicles required to dig and transport ore from place to place. These large vehicles produce emissions and greenhouse gases just like any other combustion engine-powered vehicle will, but usually on a larger scale and with much lower fuel efficiency. In addition, the earth-moving equipment that digs mine shafts or strips away topsoil can produce substantial amounts of dust and airborne particles that can further reduce the air quality around the mining operation. Airborne pollution from gold mining frequently contains heavy metals such as mercury, and as such is a potential health hazard for anyone exposed to it.

Soil Pollution

The soil pollution created by mining operations is another threat to wildlife and human health. Frequently, valuable ores run through rocks containing sulfides, and exposing this rock creates sulfuric acid. Washing these toxic byproducts away results in a semi-solid slurry called “tailings” that can contaminate the soil it comes in contact with. The acid leaching out of tailings can poison groundwater, and the toxic substances and heavy metals present in the leftover material can invade the topsoil and remain dangerous for years.

Water Pollution

Gold mining also has the potential to contaminate any nearby water supplies. Acid washed out of mines frequently finds its way into the water table, altering the pH of nearby streams and rivers and threatening the survival of wildlife. If a tailings reservoir bursts, it can result in a toxic mudslide that can block the flow of waterways and wipe out any living thing it encounters. In addition, some small-scale mining operations practice illegal dumping of their toxic byproducts. One such case is the Minahasa Reya mine in Indonesia. In 2003, the corporation that ran the mine dumped 4 million tons of toxic tailings into Buyat Bay, enough to leave detectable residues in fish caught in the bay and cause swimmers and fishermen to suffer skin rashes.

Refining

Extracting the ore is not the only source of pollution in gold mining. Refining raw ore to remove impurities and concentrate the gold content usually involves caustic chemicals. One method involves dissolving the gold with a concentrated cyanide solution, allowing the resulting liquid to run away from the remaining ore and collecting it for reconstitution. The concentrations of cyanide used in this process are extremely dangerous, and if spilled into the environment, pose a significant threat to wildlife and human health.

Source: http://sciencing.com/types-pollution-generated-gold-mining-22598.html

A Weaker Dollar Not Likely to Make Gold an Attractive Asset in a Rising Interest Rate Environment

Article Excerpt: “Last week’s price action highlights one of the major problems with gold this year: the lack of volatility. Several times this year, gold speculators had a chance to take prices substantially higher with event-driven rallies, but each time, the rallies failed.

There are still a host of issues that could move gold higher like the Brexit negotiations, issues with the Trump administration, cyber-attacks and the tensions between the U.S. and North Korea. However, last week’s price action suggests that gold is going to have a hard time rallying in reaction to any of these events if global interest rates continue to rise.”

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One of the most consistent mistakes a significant minority of inexperienced investors make is being drawn to a type of common stock known as penny stocks. At first glance, the reasons for this (ultimately dangerous) appeal are legion but almost always come down to the fact that penny stocks appear to fluctuate tremendously in price, which, they convince themselves, should lead to an opportunity to generate a very high return quickly.

Unfortunately, as with all things in life, the truth is not quite so simple. In fact, it often turns out to be precisely the opposite as penny stocks can wipe out your savings in the blink of an eye… Read Full Article

A Hawkish Fed Tone Could Take Nugget From Gold Price

An unexpectedly hawkish Federal Reserve could put significant pressure on the price of gold and push the metal to $1200 a troy ounce, some analysts say.

Metal investors have all but priced in expectations that the Federal Open Market Committee will increase interest rates when it concludes its meeting Wednesday, helping send the gold price down 1.65% since last Tuesday.

On Wednesday, weaker-than-expected U.S. economic data decreased the chance of the Fed being more hawkish than expected, which helped send the gold price up by 0.87% to $1,276 a troy ounce in London trading. But any sign of unanticipated hawkishness and gold could take a big knock, some analysts say… Read Full Article

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