GREY:GBRIF - Post by User
Post by
articsun55on Sep 08, 2009 10:02am
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Post# 16285741
Gold Stats
Gold StatsSome comments on gold from Casey Research.
Some disturbing – and very bullish – gold statistics... The World Mining Congress released its study on global mining recently, and there were some shocking numbers. We all know that production is down, but the details are outright scary...
- Based on historic averages, 75% of all discovered gold has been mined
- In spite of massive increases in exploration spending, new discoveries are declining.
- In spite of the recent deflation, average discovery costs are increasing.
- The traditional search space for gold is depleting.
- Newer mines are being found in more technically challenging and politically risky areas.
- A decrease in global gold production will underpin the bull market for years. Add to that a panic into gold that Doug Casey is convinced we’ll see, and you have a scenario that makes it highly probable the long-term gold price will be high.............