The Phaserl


Could Gold Production Peak in 2015 as Exploration Spending Drops?

by Frank Holmes, Gold Seek:

Gold jumped the most in two months on Wednesday topping $1,200 an ounce. The move came on the back of a report showing U.S. employers added 189,000 jobs in March, disappointing expectations of 225,000. This was the smallest gain in employment since January 2014, helping gold to end a three-session slump.

Chinese gold flows, as represented by withdrawals from the Shanghai Gold Exchange, will hit record levels for the first quarter of the year. Year-to-date withdrawals stood at 561.2 tonnes as of March 20. If this is indicative of the rest of the year, gold flows could reach 2,300 tonnes or more in 2015, a new record.

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