Global gold mines are producing more gold than ever, yet production costs are rising too.
The appetite for the yellow metal is rising as well, with China and Tether emerging as notable buyers in their respective sectors.
The World Gold Council (WGC) data shows that mine production rose 2% year-over-year, reaching 966 metric tons in the second quarter.
Output for the first half reached an all-time high of 1,867 tons across major producing regions worldwide.
Costs Rise, Australia Expands Agnico Eagle Mines Limited (NYSE:AEM) Detour Lake expansion contributed to Canada’s production growth, while Gold Fields Limited (NYSE:GFI) Salares Norte in Chile reached steady state.
