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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: long-gone who wrote (13161)	6/15/1998 7:54:00 AM
From: Henry Volquardsen	Read Replies (1) \| Respond to of 116822

Richard, Mine production is definitely not at historic lows. Mine production has been steadily increasing throughout the last 10 years. There is only one country in which gold production has declined significantly and that is South Africa. One thing to keep in mind re gold production is that for the major producers gold has been increasing in local currency terms. 50% of global production comes from South Africa, Canada and Australia. The currencies of all three have weakened significantly and therefore gold has been rising. 10 to 15% of production comes from the US. The balance comes from emerging markets where the currency has also been under pressure. Mine production is not at historic lows. Henry