Posted by Francis Koh on 01 Sep 2015

U.S. Gold Production Finally Hit Hard Due To Low Price

Precious Metals by SRSrocco

According to the most recently released data by the USGS, U.S. gold production declined a whopping 14% in May.  Gold production for the month of May fell from 17.3 metric tons (mt) in 2014 to 14.9 mt this year:

U.S. Gold Production Jan-May 2015   U.S. Gold Production

For the first five months of the year, (Jan-May), U.S. gold production is down 10%, from 85.3 mt in 2014 to 76.9 mt currently.  The majority of declines came out of Nevada.  Gold production in Nevada fell from 61.8 mt Jan-May 2014, to 56.1 mt this year.

If current trends continue, U.S. gold production will fall below 200 mt in 2015.  Last year, the U.S. produced 210 mt of gold (according to the USGS), so a 10% decline would amount to 21 mt.  Thus, overall U.S. gold mine supply could fall to 190 mt in 2015.