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POSTED ON February 5, 2021  - POSTED IN Friday Gold Wrap

It’s been a crazy, volatile week for precious metals. The Reddit Raiders pushed silver to over $29 an ounce and the white metal took gold up with it. But the run was short-lived and we saw a big sell-off in both metals later in the week. In this episode of the Friday Gold Wrap, host Mike Maharrey tries to cut through all the smoke and mirrors and talks about the underlying fundamentals in both the gold and silver markets.

POSTED ON February 2, 2021  - POSTED IN Key Gold Headlines

Total gold supply fell 4% year-on-year in 2020 to 4,644 tons. It was the largest annual decline since 2013, according to data from the World Gold Council.

The decline was primarily driven by disruptions in mine production due to the COVID-19 pandemic. Gold mine output fell 4% on the year. More significantly, it marked the second straight yearly drop in mine production and continued a trend of flatlining gold mine output.

POSTED ON January 25, 2021  - POSTED IN Key Gold Headlines

World gold production dropped by 5.4% in 2020 according to preliminary estimates released by GlobalData last week.

Global data projects gold production came in at 108 million ounces last year. The sharp decline was largely due to mine closures during the coronavirus pandemic. But it also fits into a broader trend of declining mine output we’ve seen over the last several years.

POSTED ON January 31, 2020  - POSTED IN Friday Gold Wrap

The Federal Reserve held its first FOMC meeting of 2020. It was mostly met with yawns as the Fed held rates steady, and despite a somewhat dovish tone, indicated that it probably wouldn’t make any moves on interest rates this year. We’ve grown so used to low interest rates that it barely registers that the Fed is actually engaged in extreme monetary policy. Extreme has become the new normal. In this week’s Friday Gold Wrap podcast, host Mike Maharrey talks about it. He also touches on the Q4 GDP report and some interesting gold supply and demand trends.

POSTED ON November 25, 2019  - POSTED IN Key Gold Headlines

Which countries produce most of the world’s gold?

Gold mine output has flatlined over the last several years and that trend appears to be continuing in 2019. Gold production rose fractionally in 2018 by about 1% totaling 3,346.9 tons. That compared with 3,318.92 tons mined in 2017  — a modest 28-ton increase year-on-year. According to the World Gold Council’s Gold Demand Trends Q3 report, on a year-to-date basis, mine production ended the third quarter at 2,583 tons. That’s virtually identical to production levels at this point in 2018.

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