A gold bullion bar at a refinery in Switzerland. The price of the yellow metal has gained 23 per cent in the past 12 months as investors sought safety from global uncertainty. Photo: Bloomberg
Gold supply heading for peak unless miners ramp up exploration spending, resource consultancy Wood Mackenzie says
- Gold miners slashed their exploration budgets when the gold price fell from the highs of 2011/12 and have kept them low ever since, say analysts
- Global gold output from mines edged up 1.1 per cent in the first half of 2019, a marked slowdown
Topic |
Commodities
A gold bullion bar at a refinery in Switzerland. The price of the yellow metal has gained 23 per cent in the past 12 months as investors sought safety from global uncertainty. Photo: Bloomberg