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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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Name Last Change
DOW 24682.30 0.18%
S&P 500 2711.93 0.18%
NASDAQ 7345.29 0.26%
TSX 15675.28 0.38%
TSX-V 830.84 0.00%

Resource Commodities

Name Last Change
Gold 1333.12 1.64%
Silver 16.58 2.29%
Copper 3.03 1.45%
Platinum 954.35 0.82%
Oil 63.40 2.11%
Natural Gas 2.67 0.90%
Uranium 24.25 N/A
Zinc 1.47 0.00%


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