From Deutsche Welle
Bonn, Germany
Tuesday, March 19, 2019
The murmurs that the world is running out of gold deposits have grown louder in the past two years.
Several experts and industry magnates, including Canadian miner Goldcorp's chairman, Ian Telfer, have forecast a perpetual decline in gold production from its current peak.
Gold production reaching its peak levels is nothing new. The production of the yellow metal has reached its highest levels on at least four occasions in the past before witnessing sharp declines.
But many say there is something that makes the current gold peak stand out: There is simply no new major gold deposit left to be discovered.
"The largest and most prolific reserves have already been found," Matthew Miller, an analyst at CFRA Research, told Deutsche Welle. "Gold miners are struggling to grow reserves in line with their production." ...
"The gold miners realize that the prices of companies are at such attractive levels that it's cheaper to buy gold in the stock market than it is to explore for it," John Ing, a mining analyst at Maison Placements Canada, told DW. ...
"Finding gold is a function of the gold price," Ing said. "There is no shortage of gold in the world but just at this price there is a shortage. It's quite possible that gold will be $2,000 per ounce. Then you will see a rush of exploration and more deposits being found." ...
... For the remainder of the report:
https://www.dw.com/en/is-the-world-running-ou...gold/a-47974833
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