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Gold production soars to record in 2013 despite price drop: study

Posted on 24 January 2014

Despite plummeting gold prices, global production of the precious metal reached a record in 2013 for the fourth-consecutive year. The result appeared in a report on Thursday from the precious metals consultancy Thomson Reuters GFMS. In addition to dispelling theories about “peak gold,” the study shows that gold miners are churning out the metal at a furious pace, even though they are facing severe margin pressure.
Total gold mine supply reached 2,982 tonnes last year, according to GFMS estimates, up 4.1% from 2012. But Rhona O’Connell, head of metals research and forecasting at GFMS, said the final number will likely be higher as fourth quarter production guidance from miners has been stronger than expected………………………………………..Full Article: Source


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