The following are some introductory bullet points for my latest article on Seeking Alpha: To read the full article click on Currency Wars Keep Global Gold Miners In Good Shape:
- While the US dollar gold price has fallen over 40% from its 2011 peak, the same is not true in major gold producing nations’ own currencies.
- With most gold mining costs incurred in domestic currencies and revenues in US dollars, the economics of mining in most of the world’s top producers are not nearly so negative.
- In Canada and Australia for example the gold price is only down 15% and 13% respectively from the 2011 peak.
- In Russia – the world’s No. 3 gold miner – the current gold price is close to an all-time high.
- In South Africa (the world’s sixth largest producer) and Argentina (world No. 14), the gold price is comfortably at an all-time high.
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