Friday, November 13, 2009

Why Is The Price of Gold Rising?

Is it because of economic uncertainty or because we are seeing the beginning of "peak gold?" NPR:

Global gold production is falling worldwide despite its rising price and aggressive efforts by mining companies to discover fresh sources of bullion in remote locations.

At an annual gold conference in London this week, the president of the world's top gold producer, Barrick Gold of Canada, said that "production peaked around 2000 and it has been in decline ever since, and we forecast that decline to continue. It is increasingly difficult to find."