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SGOL - Gold Mine Output Falls For First Time Since 2008
Aberdeen Standard Physical Swiss Gold Shares
By SchiffGold
After flat-lining over the last several years, gold mine output fell by 1% in 2019. This is further evidence that we could be heading into a long-term and perhaps irreversible decline in gold mine production.
According to the World Gold Council, total gold mine output in 2019 came in at 3,463.7 tons.
A particularly weak fourth quarter drove the overall decline in gold production. Mine output fell 2% year-on-year in Q4 to 859.5 tons. According to the WGC, it was the lowest level of fourth-quarter mine output since Q4 2016.