Thursday, November 12, 2009

 

Peak Gold

In my post of November 8, “EROEI and Ore Mining,” I directed readers to an article that applied the EROEI yardstick to ore mining. In a timely manner, the UK Telegraph has just published a piece titled “Barrick shuts hedge book as world gold supply runs out,” which illustrates this very reality with the example of gold. So, in addition to the worldwide flight to gold sparked by the deepening world economic crisis, “peak gold” is another factor that will push up the price of the yellow metal.

It’s not my place to tell readers to invest in gold. All people have to make their own choices based on their unique circumstances. But it’s definitely something to consider seriously.



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