Posted on June 4, 2013 by lucas2012infos | Leave a comment
from Seeking Alpha:
In an earlier article
we laid out the case for the importance of annual gold mining
production and how it heavily influences the supply picture of physical
gold. Gold mining companies have been having a tough time controlling
gold costs, and the true all-in costs of an average ounce of gold is now
being produced at close the $1300 per ounce. Even with the price of gold averaging more than $1600 per ounce in 2012, total gold production was down for the miners we researched, which encompassed more than 25% of total annual gold production.
Higher premiums are still present from Dubai to Shanghai, U.S. Mint sales have been breaking records,
and other mints and refiners are producing gold coins and bars round
the clock to meet demand for physical metal. Counterintuitively, the
market price of gold has been dropping even as we see the highest amount
of physical demand in years.
Read More @ SeekingAlpha.com
www.sgtreport.com / link to original article
Thanks to: http://lucas2012infos.wordpress.com