Gold Production: 9 Straight Years of Record Mining

The World Gold Council’s Gold Demand Trends report released yesterday shows gold production hitting another record in 2017, making 9 years in a row that the world’s mines have produced ever-larger numbers. Production totaled 3,268.7 tonnes in 2017, just slightly above 2016’s number, but still higher.  

As you know, some are saying we are at peak gold right now, and production will soon begin to fall – and never recover. Claims like that usually lead to heated discussions, to be kind about it. In the end, fact talks and BS walks, so this Gold Enthusiast won’t be taking sides. But we will keep an eye on production, because when it falls, prices tend to rise.

Mining.com wrote up a nice article about gold production last year including factors contributing to the increase, and taking away from what could have been a bigger year.  You can read it here.

Related: Here’s Why Gold Prices Are Set to Rebound

About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as a continuing theme. Mike graduated from UC Berkeley with a business degree, then worked with Macy's in their operations arm. He left Macy's and spent a summer trading his own account, which taught him a lot about trading in general and markets in particular. Trading through the Black Monday and the Crash of 1987 showed him how most people are unprepared for upheavals in their trading. He then joined Waddell & Reed as a financial advisor, helping regular people understand their finances and meet their life goals.

Then came the usual story - Mike met and married the lady of his dreams. They moved to upstate New York, where Mike worked first for a small manufacturing consulting company, then Cornell University. While loving the work and the higher-education atmosphere, Mike missed the world of finance. Eventually, he signed up for stock trading coaching with the Adam Mesh Trading Group, to learn from people who understood modern markets. Within a year, Adam asked Mike to become a stock trading coach.

Since then, Mike has trained over 200 individuals, spoke at several national conventions, and is a frequent contributor to conference calls across the Adam Mesh community. Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keep him in touch with "the student mindset". Mike closely follows the gold, energy, and financial sectors. His motto is "Plan your trade, then trade your plan!"

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