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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

Will falling supply drive the gold price up?

Posted on 19 July 2013

It’s only a trickle at the moment, but it could become a flood if gold prices continue to fall. I’m talking about gold mines being closed or put on care and maintenance with operations suspended.
The price of gold fell from its all-time high of US$1,921 an ounce in September 2011 to its current price of around US$1,290 an ounce. That obviously has an effect on gold miners, and with the average global all in production cost per ounce estimated at anywhere between US$1,000 and US$1,300, what were once huge margins for gold miners are now wafer thin……………………………………….Full Article: Source


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VRS - who has written 36545 posts on Opalesque Commodities Briefing.


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