Who cares about 'peak gold' until there's 'peak paper'?

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Published : May 17th, 2018
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Category : GoldWire

By Gabriel Friedman
National Post, Toronto
Wednesday, May 16, 2018

Ian Telfer, chairman of Goldcorp Inc., is the latest industry magnate to predict the world has reached "peak gold," saying that from here on out, mine production will continue to decline because all the major deposits have been discovered.

"If I could give one sentence about the gold mining business ... it's that in my life, gold produced from mines has gone up pretty steadily for 40 years," Telfer said. "Well, either this year it starts to go down, or next year it starts to go down, or it's already going down."


"We're right at peak gold here," he added.

Although gold prices sank 2 percent to US$1,289.86 per ounce this week, sliding below the psychologically significant US$1,300 mark for the first time this year, Telfer said that day that he remained bullish and predicted gold prices would surpass US$1,500 or US$1,600 per ounce before the end of the year. ...

... For the remainder of the report:

http://business.financialpost.com/commodities...ght-at-peak-...

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Chris Powell is the secretary of the Gold Anti-Trust Action Committee (GATA) which has been organized to advocate and undertake litigation against illegal collusion to control the price and supply of gold and related financial securities.
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