Aaron Regent, president of the Canadian gold giant, said that global output has been falling by roughly 1m ounces a year since the start of the decade. Total mine supply has dropped by 10pc as ore quality erodes, implying that the roaring bull market of the last eight years may have further to run.
“There is a strong case to be made that we are already at ‘peak gold’,” he told The Daily Telegraph at the RBC’s annual gold conference in London.'
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Yeah, it looks like the gold market is going to continue to run. Production, governmental monetary policies, etc are all pushing it higher.
ReplyDeleteI was tracking it today with ExactPrice and it looks like there was a nice correction this morning followed by a strong run up. The year chart is quite interesting.
The moves China, India and Russia have been making are definitely weighing on investors minds which is also helping to push it higher.