Gold Mining Companies Are Running Out of Gold: FiveÂ Must See Charts
- ‘Peak gold’ âÂ 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 beenÂ 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. BloombergÂ have again coveredÂ this important fundamental factor in the marketÂ and have done so with an article and five must see gold charts:
âGold’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:â
We first covered theÂ peak gold phenomenon back in 2007 and 2008 (see here)Â and have considered peak gold frequently over the years. ‘Peak Gold’ is happeningÂ 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.
Read full article on Bloomberg here
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