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

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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
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Eric Ng

Eric Ng

Eric joined the SCMP in 1998 after brief stints in a trading company and translation and editing roles at Dow Jones and Edinburgh Financial Publishing. He has close to 20 years of experience covering China's energy, mining and industrial materials sectors, and has recently added biotechnology to his coverage. Eric has a Masters of Business Administration degree.