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GOLDEN OPPORTUNITY

12th August 2016

By: Martin Creamer

Creamer Media Editor

  

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With gold still 41% below the levels seen in 2011, Sharps Pixley CEO Ross Norman sees a golden opportunity to buy gold now. What South African gold miners are finding to be an even bigger golden opportunity is mining gold now, which, in rands, is fetching record prices above the R600 000/kg level. Meanwhile, the World Gold Council reports that the dollar gold price breached $1 360/oz for a second time in 2016, a level previously seen in early 2014. The council also sees the weak Japanese bond auction of August 2 as unnerving markets and causing investors to turn to gold to hedge portfolio risk.

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