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Barrick shuts hedge book as world gold supply runs out

Aaron Regent, president of the Canadian gold giant, said that global output has been falling by roughly 1m ounces a year since the start of the decade. Total mine supply has dropped by 10pc as ore quality erodes, implying that the roaring bull market of the last eight years may have further to run.

"There is a strong case to be made that we are already at 'peak gold'," he told The Daily Telegraph at the RBC's annual gold conference in London.
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Watch how high gold and silver run up if this is true.

jj

http://www.telegraph.co.uk/finance/...hedge-book-as-world-gold-supply-runs-out.html
 
This could be the start of the inflation everyone knows is going to happen. News gets out and there will be public panic buying of gold and silver. If the story is true.

jj
 
Precious metals market is an interesting thing. I worked for a silver/gold exploration company for about 18 months before they suddenly switched to cement grade limestone exploration. During the last year, quite a few precious metal exploration companies have gone under while we have been working hard to find limestone to sell to the Chinese.

Could limestone be the new gold? ;)
 

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