You are here
A shortage of gold? Only at such a low price
Is the World Running Out of Gold?
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.
... Dispatch continues below ...
Goldco Is America's No. 1 Gold IRA Provider
Goldco Precious Metals was founded by Trevor Gerszt in 2006 with a mission to help Americans protect their retirement accounts from market volatility and inflation by adding precious metals like gold and silver.
Experts predict that we are headed toward another economic crash like the one in 2008. If you aren't prepared, your retirement savings could vanish. At Goldco we take the time to understand our customers' investment goals and objectives and give them the resources to feel confident that their money will be there for them when they need it.
To learn more about adding gold and silver precious metals to your retirement accounts, please visit Goldco here:
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-out-of-gold/a-47974833
* * *
Join GATA here:
Mining Investment Asia
Marina Bay Sands Conference and Exhibition Center
Singapore
Tuesday-Thursday, March 26-28
https://www.mininginvestmentasia.com/
Mines and Money Asia
Hong Kong Conference and Exhibition Center
Wan Chai, Hong Kong
Tuesday-Thursday, April 2-4
https://asia.minesandmoney.com/
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
