With third quarter earnings now complete for gold producers, a common theme in the results was a discussion on cost inflation. Fuel continues to be the area most cited along with rising pressures on consumables/reagents..
ETFs continued to sell, bringing this year’s net sales to 9.11M ozs. Total gold held by ETFs fell 8.5% this year to 98M ozs, the lowest level since May 13, 2020.
