Have We Hit 'Peak Gold'?
September 2018 by Chris Ralph
According to some experts, after the peak is reached, the production rate will slowly decline until it reaches near zero while the price shoots upward. At that point, we will have pretty much mined all the economic ore deposits that are present on the planet.
I hope long-term readers would agree that while your columnist does occasionally carry some arguments to an extreme length, I usually stay within the bounds of reason. I am pointing this out because I was struck by an economic vision a few days ago that could test those bounds.
It should come as no surprise that gold and silver acted similarly, rising sharply during the early hours of the crisis and retreating as tensions abated.
After six years of primarily sideways action, gold broke decisively to the upside by breaking above strong resistance between $1,350 and $1,400 by soaring to near $1,450 before correcting moderately.
Reservers and resources are very important to prospectors and miners, but they may be vague terms to some.
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