Drilling a round at a Nevada open-pit mine; blasting this round will break a quarter-million tons of ore that grades about one gram of gold per tonne.
WIKIMEDIA COMMONS
Among the many effects of the COVID-19 pandemic on the global economy is an adverse impact on the mine-supply side of the gold market. The pandemic has already curtailed gold exploration and gold-mine-development activities, as well as the production of existing gold mines—all factors to consider from the bigger perspective of “peak gold.”
“Peak gold,” a term that has been bandied about for decades, is again on the minds of metal-market analysts, economists, and metal investors.