Gold Mining Companies Are Running Out of Gold: Five Must See
Charts
- ‘Peak gold’ – World’s gold production to peak in
2019 and decline
- Gold found by miners has plunged 85% over past decade
- Gold mining CEOs turning to deals to combat dwindling
reserves
- Exploration more difficult and firms have cut capex
The reality of peak gold production has recently been acknowledged
by Bloomberg and some of the financial media. Yet the mainstream, non
specialist financial media has yet to cover this important topic with obvious
ramifications for the gold market and the gold price in the medium and long
term.
Peak gold production is happening globally which is very positive for gold
and gold mining shares. Bloomberg have again covered this
important fundamental factor in the market and have done so with an
article and five must see gold charts:
“Gold’s had a roller-coaster year, surging as much as 30 percent
before giving up the bulk of those gains. But one trend has been consistent:
mining companies are finding it harder to dig up more of the precious metal.
The following charts show why, and what that means for the industry:”
We first covered the peak gold phenomenon back in 2007 and 2008 (see
here) and have considered peak gold frequently over the years. ‘Peak
Gold’ is happening which has important ramifications for the gold market
and is a long term positive for the market which will support prices and
should lead to higher prices.
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Gold Prices (LBMA AM)
23 Dec: USD 1,131.00, GBP 921.99 & EUR 1,082.25 per ounce
22 Dec: USD 1,130.55, GBP 916.20 & EUR 1,080.47 per ounce
21 Dec: USD 1,134.40, GBP 919.20 & EUR 1,091.07 per ounce
20 Dec: USD 1,132.75, GBP 915.94 & EUR 1,090.84 per ounce
19 Dec: USD 1,137.60, GBP 913.15 & EUR 1,089.14 per ounce
16 Dec: USD 1,134.85, GBP 911.17 & EUR 1,084.80 per ounce
15 Dec: USD 1,132.45, GBP 904.37 & EUR 1,080.70 per ounce
Silver Prices (LBMA)
23 Dec: USD 15.74, GBP 12.85 & EUR 15.06 per ounce
22 Dec: USD 15.77, GBP 12.78 & EUR 15.10 per ounce
21 Dec: USD 16.03, GBP 12.96 & EUR 15.40 per ounce
20 Dec: USD 15.80, GBP 12.80 & EUR 15.22 per ounce
19 Dec: USD 16.00, GBP 12.89 & EUR 15.34 per ounce
16 Dec: USD 16.05, GBP 12.91 & EUR 15.36 per ounce
15 Dec: USD 16.14, GBP 12.95 & EUR 15.51 per ounce
