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.
The Producer Price Index rose 0.8 percent in September due to higher gas prices. Food stuffs, on the other hand, declined after a strong run up through the summer. Analysts were expecting a more modest rise in the PPI.
The Producer Price Index results, released by the U.S. Bureau of Labour Statistics on Wednesday, showed that all finished energy goods were up strongly in September.
“The index for finished energy goods advanced 2.3 percent in September after decreasing in each of the previous three months. Nearly seventy percent of this rise can be attributed to the gasoline index, which increased 4.2 percent. Higher prices for liquefied petroleum gas and diesel fuel also were factors in the rise in the finished energy goods index,” according to the statement.
While gas prices were up, food prices finished down.
“The index for crude foodstuffs and feedstuffs fell 0.9 percent in September. From June to September, prices for crude foods moved up 2.9 percent following a 1.4-percent increase for the 3-month period ending in June. A major factor in the September monthly decrease was a 7.4-percent decline in the fluid milk index. Lower prices for slaughter hogs also contributed to the crude foods decrease.”
