South African miners on strike

The deadline we mentioned last week has now passed without resolution and around 80,000 gold miners in South Africa will commence an indefinite strike today as the union and mine companies remain poles apart on wages.  When considered against our news post yesterday about the undersupply of gold in the world and the real threat of military action in Syria it could not come at a worse time for one of the world’s largest producers and puts more upward pressure on global gold prices.