Gold firms plan drastic cuts to stay afloat as bullion sinks

Gold firms are struggling and in order to stay afloat they are planning to take some drastic steps. Most of the gold producers are cutting jobs and stopping dividends, some firms have also been forced to stop ongoing projects and even shut down mines. But despite all this, many of the firms may not survive.

Gold prices have dropped to $1,137.40 per ounce which is the lowest that gold prices have fallen in the past four years. Last year gold saw a 28% price drop as it went down to $1,196. That was a nightmare situation for gold firms and many were forced to shut their doors. However, the prices again climbed up in the beginning of 2014. Unfortunately, it looks like gold prices have been in a downward spiral again for the last 3 months and gold producers are having a very hard time coping with the situation.

Gold is a special commodity as its price doesn’t depend completely on the demand and supply policy, instead, it depends on the global economic scenarios like inflation and interest rates, as such it is very hard to predict which way the market will move at any given time.

About The Author

David Nataf started his career as co-founder of Net Development, a leading French web integrators, employing 80 people. After the merger of Net Development with Reef publisher, David joined the law firm, Jean-Pierre Millet, with the defense of computer attackers and victimes specialty ("hackers") in cases between different organizations such as NSA or other members of the international interception 'Echelon' network from the UKUSA treaty or the US Air Force. He is the author of several books on information warfare, consultant for the European Parliament as an expert in computer security (SSI) and electromagnetic signals intelligence (SIGINT). David Nataf successively launched several start-ups of the Internet in the field of paperless technologies termination of contracts online ("resilier.com"); online subscription to early stage fundraising foreshadowing the model will retain more later the platform "gust.com", or free roaming mobile operators (MVNO). Given his specialty at the cross road of anti computer crime legal advising, Internet technology, media and anti-propaganda operations, David has naturally become an actor's influence on the Web, working for a think-tank representing french defense and Aerospace. He is architecting crypto farms and masternodes for cryptocurrencies in Asia and Israel technological parks. He graduated in Law from the Faculty of Paris, is a passionate graduated gemologist by Gemological Institute of America "GG", Gemmological Association of Great Britain "Cert-Ga", practical daily triathlon.

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