World Gold Production Expected to Hit 11-Year Low

By Gold World Staff

It's either feast or famine.

A long and and painful five-month correction in gold prices has raised doubts over the continuation of the current gold bull market. However, a significant increase to prices over the last few weeks has gold investors looking perky again.

Gold has climbed over $100 (14%) since the beginning of November, signaling that prices may have already bottomed out and the gold bull market is far from over. And with world gold production in decline while demand is rising, we could start to see major leaps in prices.

World Gold Production and Demand

Last week we looked at world gold demand statistics. If you recall, we mentioned that world gold demand totaled 1,133.4 tonnes during the third-quarter, an increase of 170.1 tonnes (18%) from levels of a year earlier.

In dollar terms, this represented a 51% rise to $31.8 billion, an all-time record high and 45% leap from the previous record set during the second-quarter.

Gold demand—especially investment demand—is stronger than ever right now. However, world gold production is expected to hit an 11-year low. This suggests the supply and demand fundamentals may start to play a larger role in elevating gold prices.

World Gold Production Expected to Hit 11-Year Low

World gold production peaked in 2001 at 84.3 million troy ounces. Since that time global gold production has slipped significantly

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