The world’s top gold mining companies have warned that global production of the precious metal is likely to resume a long-term decline in coming years, despite a record-breaking surge in the gold price to more than $1,100 an ounce. Much of gold’s recent rise to $1,122.85 last week has been due to the weaker dollar and huge inflows into exchange-traded funds. Analysts say that output could increase over the next year amid rising prices and years of stagnating production. That and any rally in the dollar could lead to a correction in the gold price.

This entry was posted by Gwen Robinson on Monday, November 16th, 2009 at 4:40 and is filed under Capital markets, Commodities. Edit this entry.