Video: Gold mining faces a cliff after 2025, CRU analyst predicts
Global gold production will peak at about 3,250 tonnes (105 million oz.) next year, according to CRU's Oliver Blagden.
Live gold prices by Kitco.com
Gold prices spiked in New York on Tuesday morning, gaining more than $15 an ounce in a matter of minutes and almost hit $1,210 before 10:00 am.
Worries over tension between Russia and the West, a fresh wave of political uncertainty in Greece, and a weaker dollar helped push the precious metal through key chart levels, triggering fresh buying.
Gold for February delivery, the most actively traded contract, recently was up $22.20, or 1.9%, at $1,204.10 a troy ounce, its highest intraday price in more than a week on the Comex division of the New York Mercantile Exchange.
And while the trend in gold has been negative this year, with prices down 14% from their highs, some believe that $1,200 will be the new normal for the precious metal in 2015.
