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If Gold Prices Stay At These Levels, There Will Be a Problem - Joe Mazumdar


With gold price trading at current levels, below $1,300 an ounce, one geologist says we may be running out of gold. “If the gold price stays at these levels, there’s not enough quality ounces,” Exploration Insights’ Joe Mazumdar told Kitco News at the Mines & Money conference in Toronto. The problem? There is not enough exploration, he said. “Grassroots exploration as a proportion of exploration expenditures for gold has been declining since 2003, the majors are just not doing it,” he explained. “Right now, it’s difficult to find grassroots explorers that are well valued in terms of risk-reward ratio.”

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MARKET SUMMARY

INDICES

Name Last Change
DOW 23328.60 0.71%
S&P 500 2575.21 0.51%
NASDAQ 6629.05 0.36%
TSX 15857.22 0.25%
TSX-V 789.51 0.00%

Resource Commodities

Name Last Change
Gold 1280.70 0.71%
Silver 17.04 1.23%
Copper 3.15 0.33%
Platinum 923.75 0.35%
Oil 51.29 1.46%
Natural Gas 2.87 0.66%
Uranium 20.14 N/A
Zinc 1.44 0.00%

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