Gold trading is at $ 20 over the historical record! Goldman predicts a new rally

Gold trading is at $ 20 over the historical record! Goldman predicts a new rally

The situation in Japan because of the earthquake and tsunami, and the volatility of the currency market will support a new gold bull rally. The investment bank believes that this is a good time to buy gold, a product that is considered the ultimate safe haven asset. Goldman analysts believe that the precious metal reached its peak next year. “We see a sharp rise of gold in the short term, but we expect the increase in U.S. interest rates causing a peak in 2012,” by Goldman Sachs. With Japan in the middle of nuclear crisis and the need to rebuild the country after the earthquake and tsunami of last week, gold is aiming high. In addition, instability in foreign exchange markets and oil revalued the precious metal’s appeal as a safe where to look...

Gold in Uruguay – Mining in Rivera

Gold in Uruguay – Mining in Rivera

Orosur Mining, the only gold mining company in Uruguay, will begin work in his quarry underground main El Arenal, in Rivera, thus attaining an investment of $ 30 million for a project that will last about six years and may go to employ about 150 people. The company works in the country since 2003 in “open sky mining” and hired by tender Chilean Redpath Building to dig the tunnel. “Is a contractor with international experience” said The Business chief financial officer Ignacio Salazar. “The hardest part is the development of the ramp to get the gold and extract it, then we can use the systems they have” he said. The Chilean company, which is in the process of recruitment of staff, is responsible for the first stage of the project...