The Gold Telegraph
APR 10, 2018
Higher demand for gold in global markets rife with uncertainty and debt worry will play out against a backdrop of dwindling global production supply.
In 2017, there was a noticeable drop in terms of production from miners such as Barrick, Goldcorp, and Kinross, however, this was offset by stronger output from Newmont, AngloGold Ashanti and most notably Polyus Gold as Russia continues to become a significant gold mining producer.
With global debt currently at 233 trillion, and Janet Yellen issuing a warning that the $20 trillion national debt ‘should keep people awake at night’ one can only imagine that these countries will continue to keep a close eye on local mining projects, as more uncertainty looms in the state of deleveraging and in the US bond market. This can be added to the list of currency wars, trade wars and geopolitical tension around the world.
As well documented, Russia and China continue to stockpile gold as insurance against their U.S. Treasury positions, as more and more countries begin to shred positions such as Japan.
As outstanding liabilities and debts continue to grow at an alarming rate globally, the insurance of gold should serve as a safety net when the money printing fiasco turns belly up.
ORIGINAL SOURCE: The Top Gold Producers in 2017: Companies and Nations by Alex Deluce at The Gold Telegraph on 4/9/18