04.06.2015 - Economic value of gold mining fell 16% on 2013 price slide
Gold mining’s economic value worldwide sank 16 percent in 2013 as prices tumbled by the most on record, according to an industry lobby for the precious metal. Gross value added, a gauge of the industry’s activity, was $83.1 billion in 2013, or $171.6 billion including the value of goods and services from outside businesses such as suppliers, the World Gold Council said in a report published Wednesday. Gold mining’s economic contribution is up almost seven-fold since 2000 as output and the value of the metal climbed. Prices increased to a peak of $1,900 an ounce in 2011 from $272 an ounce at the end of 2000. Gold was $1,193 an ounce at 3:55 p.m. in Johannesburg on Tuesday. It dropped 28 percent in 2013...............................................Full Article: Source
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