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Private equity buyer Waterton Global Resource Management Inc. is closing in on an acquisition of another gold mine in Nevada. The investment firm is planning to buy the property from Colorado-based gold and copper giant Newmont Mining Corp. The underground mine is called Midas, and it is already pumping out yellow metal.
Private equity buyer Waterton Global Resource Management Inc. is closing in on an acquisition of another gold mine in Nevada. The investment firm is planning to buy the property from Colorado-based gold and copper giant Newmont Mining Corp. The underground mine is called Midas, and it is already pumping out yellow metal.
(AP)

Why any rebound in gold is likely to be brief

Good news hasn’t been kind to gold. As fears of runaway inflation, currency crises and economic ruin fade away, so does bullion.

It is now closing in on its recent low of $1,200 (U.S.) an ounce in June, its lowest point in nearly three years, following a $34 slide on Monday. For the year, it is down 27 per cent and is nearly certain to end a 12-year winning streak and mark its worst annual performance in more than three decades.