Network Metals LLC

The precious metals are falling again as equities pick up, and gold has fallen below $900. This should not really change the fact that unless we see some real stability take hold, we are mostly seeing dips and bounces in gold prices mostly on their way up through the $850-$1050 trading range. Most analysts still seem to hold these positions regarding safe haven buying. But we are still seeing bearish and defensive signs from some of the larger gold companies, with the news today that Barrick Gold (NYSE:ABX) is cutting 200 jobs due to sustained high production costs in Tanzania.