From a peak of more than $1,900 in mid-2011, gold prices dropped below $1,100 in 2015 before rising to around $1,400 last summer. On Friday, the February delivery price settled at $1,210.20, up about $100 since mid-December. The price of gold generally rises in periods of inflation and periods of economic uncertainty.
This is certainly one of the latter and may be the beginning of one of the former. The consumer price index topped 2% last week, and November’s election of Donald Trump as the 45th U.S.
President has presented investors with plenty of uncertainty. A strong dollar also tends to weigh on the price of gold, and Trump has made clear his belief that the dollar is overvalued compared with the Chinese yuan. If the dollar sinks, interest in gold rises.
Where does the world’s gold supply come from? The country that produced the most gold in 2015 was China, but not a single one of the world’s top producing mines is located in China. Russia, the third-largest producing country, likewise has none of the top mines.
Australia, the world’s second-largest producer of gold, has one mine among the world’s top 10, and the United States, ranked fourth, has three. Canada is the world’s fifth-largest gold producer.
For the rest of this article, click here: http://247wallst.com/commodities-metals/2017/01/22/worlds-10-top-producing-gold-mines/