Gold plan points to price pain

The now-failed merger plan between Newmont and Barrick is a signal that gold is melting.

Investors keen on gold were disappointed by the failure of the attempt to merge Newmont Mining and Barrick Gold, but what they should have been more disappointed about was the original proposal and the negative message it contained about the gold-price outlook.

When the complex deal surfaced two weeks ago, some people saw it as a way to generate synergy benefits in the world’s two biggest gold producers that would maximise profits.

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