NPR logo A Golden Peak?

A Golden Peak?

Here's one more reason the price of gold has risen to historic levels: global gold production is falling worldwide despite its rising price and aggressive efforts by mining companies to discover fresh sources of bullion in remote locations.

At an annual gold conference in London this week, the president of the world's top gold producer, Barrick Gold of Canada, said that "production peaked around 2000 and it has been in decline ever since, and we forecast that decline to continue. It is increasingly difficult to find."