Precious Metals:Data & Statistics
Miners To Reduce Gold Production
First diamonds, now gold. After diamond miners and dealers complained
long and hard about low profits, De Beers responded by limiting supplies.
As long as the demand holds steady, lower supplies should mean steady or
Now comes word the world's gold miners particularly the biggest
three producers will cut annual production growth rates from
an average 5% since 1981 to 1% through 2001.
The reason: "The sustained low gold price over the past year has
caused miners to recalculate their projections," says The Gold Institute,
Washington, DC, which represents gold producers, refiners, bullion suppliers
What does it mean for jewelry retailers? Don't get used to low gold prices
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