The World Gold Council’s Gold Demand Trends report released yesterday shows gold production hitting another record in 2017, making 9 years in a row that the world’s mines have produced ever-larger numbers. Production totaled 3,268.7 tonnes in 2017, just slightly above 2016’s number, but still higher.
As you know, some are saying we are at peak gold right now, and production will soon begin to fall – and never recover. Claims like that usually lead to heated discussions, to be kind about it. In the end, fact talks and BS walks, so this Gold Enthusiast won’t be taking sides. But we will keep an eye on production, because when it falls, prices tend to rise.
Mining.com wrote up a nice article about gold production last year including factors contributing to the increase, and taking away from what could have been a bigger year. You can read it here.