A serious problem facing our gold producers is going to become apparent in the next few years.
Over the last decade selectively mining only the high-grade accessible areas of their deposits, known as high grading, was one way for operations to bolster margins when facing low metal prices.
At Ahead of the Herd all we want to know, and all we really care about, is whether the annual mined supply of gold meets annual demand for gold.
Since 2016 demand for gold has failed to be met by gold mining. Only by recycling gold jewelry could demand be satisfied.
About the author
Richard (Rick) Mills
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