Gold prices remain steady; 2015 has weak start for gold miners

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The price of gold currently sits at $1,200 and has stayed around this mark for the last couple of weeks. Although the price has swayed for the past couple of months, it has always remained around the $1,200 mark.

Throughout the second half of February, the price of gold stayed at the $1,200 level although several weeks ago, the trading price jumped to $1,220, which has been the highest it sat at in seven weeks.

Meanwhile in the mining world, TD Securities analysts are predicting that senior gold miners will report a decrease of 10 per cent in gold production for the start of this year compared to the fourth quarter of 2014. The drop will subsequently result in a small increase in cash costs.

Companies like Goldcorp Inc. have already revealed a drop in their production, 19 per cent to be exact. But analysts say that the first quarter of 2015 is poised to be the weakest, with stronger numbers coming up ahead. CJ

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