Peak Gold: $3,000 Per Ounce?
- ‘Peak Gold’ May Already Be Here
- Silver Bullion Tops List of Investments
- Explorers are Returning to Famous Gold Camps
For years, we’ve spoken and written about the potential for ‘Peak Gold‘. Now, in 2024, we may have already hit this critical barrier/era for the precious metal…
According to gold.org, global gold production over the last decade has been relatively flat. Considering the falling average grade of gold mines globally, and the lack of exploration investment over the past decade, total gold production should continue to stagnate.
The World Gold Council explained in early 2023 that:
“Annual mine production increased 1% year over year although remains below the record high seen in 2018.”
Despite record central bank buying in 2022 and almost again in 2023, jewelry still dominates global gold consumption, accounting for 46% in 2023. Gold bars, coins, and ETFs account for about $3 trillion, representing roughly 1% of the $266 trillion financial assets invested globally. If ….