12/08/09 Stockholm, Sweden – Jean Laherrére at The Oil Drum sees a permanent decline forming in world gold production. From his analysis The Business Insider has selected several charts that best explain the compelling case he’s made for peak gold.
Here are a few highlights:
* Throughout history cumulative gold production has risen alongside growth in human population, but it looks like gold production will peak and begin to peter out sometime in roughly 2050.
* Growth in world gold production was fairly steady up until the 1800s when it exploded along with population.
* The world’s annualized gold production peaked in 2000. Since then the average grade is going down and refining the lower quality grades of gold is more expensive.
* Gold exploration budgets have increased more than 600 percent since 2002, but since the 1980s there have still been far fewer large discoveries.
To see the full 14-chart slideshow visit The Business Insider for its coverage of the coming collapse of the global gold mining industry.
Rocky Vega
Rocky Vega is publisher of Agora Financial International, where he advances the growth of Agora Financial publishing enterprises outside of the US. Previously, he was publisher of The Daily Reckoning, and founding publisher of both UrbanTurf and RFID Update -- which he ran from Brazil, Chile, and Puerto Rico -- as well as associate publisher of FierceFinance. Rocky has an honors MS from the Stockholm School of Economics and an honors BA from Harvard University, where he served on the board of directors for Let’s Go Publications, Harvard Student Agencies, and The Harvard Advocate.
The Daily Reckoning is your premier source for making sense of the news Washington and Wall Street generate. Each business day, The Daily Reckoning calls on its stable of world-class writers and thinkers to show you how to get ahead.
Start your 100% FREE subscription to The Daily Reckoning today and you’ll get a free research report, “How to Survive the Fall of Social Security.” Simply enter your email address below to get your free report and join over 495,000 worldwide Daily Reckoning subscribers!
We Respect Your Privacy and We will
Never Share or Sell Your Email Address
