In inflation adjusted terms the Gold price is nearly as low as it was in 1970!
Gold has now recorded its second-longest bear market in modern history.
http://www.australian-gold.com/gold-news.html
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Physical delivery from the Shanghai Gold Exchange reached a record 2,596 tonnes, representing more than 90% of total global output for the entire year.
Quarterly Report
to 31 December 2015
Operations
Gold Production – Gold production for the December quarter was 39,975 ounces. Annual production
for CY2015 was 122,292 ounces.
Costs – Cash costs for the December quarter were US$664 per ounce. All-in Sustaining Costs
(“AISC”)*for the December quarter were US$899 per ounce.
Record Ore Mined – Mining of gold ore for the December quarter was a record of 1.5 million tonnes,
an increase of 69% and 10%, over the September 2015 quarter and the December 2014 quarter,
respectively. Accordingly, ROM stockpiles continue to grow substantially to a record 429,000 tonnes
at year end representing a 536% increase in ROM ore tonnes compared to the end of September
2014. Read more
Courtesy of: The Money Project
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