Gold Mining Slips But 2019 Supply Sets Record

GOLD MINING output fell for the first year in over a decade in 2019 according to industry-leading data, snapping a run of new all-time highs and reviving talk of 'peak gold' among executives and analysts.

But total supply still rose to a new all-time high, thanks to 'scrap' flows rising by more than 10% as gold's sharpest price gain since 2011 spurred the heaviest reselling of jewelry in 7 years by consumers worldwide.

Figures from specialist consultancy Metals Focus say 2019 was the first year since 2008 that global gold mine production didn't grow – down by 1.3% to 3,464 tonnes – and the first year since 2009 that it didn't set a fresh all-time record.

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