18.02.2011 - WGC report: World gold supply climbed 2pct during 2010
From Kitco News: Global gold supply rose 2% in 2010 to 4,108 metric tons, the World Gold Council reported Thursday. The WGC said total supply is likely to rise further as increased exploration-and-project spending from the last decade “starts to bear fruit.” Nevertheless, total supply growth should be “modest at best” due to the lack of official-sector sales and stabilization of gold-recycling flows, the WGC said. Furthermore, the data confirm constraints on supply since mining companies cannot quickly ramp up output to take advantage of a 26% rise in the average price last year, said Eily Ong, of investment research with the WGC. There is a lack of new large deposits and declining ore grades at some mines..............................................Full Article: Source
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