| Announcing that gold production is approaching its limits can be hazardous. In 2009 Aaron Regent, who shortly after became chief executive of Barrick Gold, said the world had reached “peak gold.” Three years later, Mr. Regent was out of a job and mined gold output was still rising. Indeed, it hit a record 3,133 metric tons last year.
Yet predictions of peak gold are again in vogue. It remains doubtful, however, that this heralds much elevation for the gold price. Gold production may be plateauing: precious metals consultancy Metals Focus expects a slight fall in output this year. A decadelong rise in the gold price from 2001 fueled indiscriminate investment but miners have slashed spending since 2013. Substantial new mines, like Barrick’s Pascua Lama in Chile, have been halted and exploration efforts scaled back...............................................Full Article: Source
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