Goldcorp Sees Current Gold Environment As Good Opportunity

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Chuck Jeannes, president and chief executive officer of Goldcorp Inc. told Kitco recently that the current gold price environment is a good opportunity for cost cutting.

“You never want to let a good opportunity go to waste, and the reduction in the gold price has allowed us to go back to our sites and insist on some real discipline in our cost cutting efforts,” Jeannes said. “ I see this as a good opportunity for Goldcorp to focus on the financial discipline and cost cutting – what we call operating for excellence – that were already underway but have become more high-profile in this current price environment.”

On Monday, September 23, the day’s biggest mover was the price of US silver, which saw a 5.6 percent decline. Indian silver fell 4.2 percent. The price of Chinese silver closed Monday, halting its two-day flat run with a 1.3 percent decline. After a couple of days of improving prices, the price of Japanese silver held steady.

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US gold bullion finished the day down 2.9 percent. The price of Indian gold bullion fell 2.1 percent. The price of Chinese gold bullion moved up 1.5 percent. The price of Japanese gold bullion steadied following two-days of increases.

US platinum bar closed 2.1 percent lower. The price of Chinese platinum bar increased 1.0 percent. Following a two-day rise, the price of Japanese platinum bar flattened.

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Following a couple of essentially changeless days, the price of Chinese palladium bar rose by 2.6 percent. The price of US palladium bar declined 1.9 percent, after two days of improvement. The price of Japanese palladium bar flattened after two days of improvement.