Gold Output Continues to Fall: A Good Time to Sell Gold?

South African gold production has been on a steady decline since the 1970s and although this spells bad news for the mining industry, it is great news for people who want to sell gold.

At one stage, South Africa was the world leader in gold production with no other country being able to hold a candle to our gold output. We held the gold market in our hands and almost 79% of all gold was coming from South Africa.

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Today, South Africa is only the 6th largest gold producer in the world and the industry is approaching dangerous waters. The high costs of gold production coupled with frequent wage strikes is crippling the industry. Producing gold is becoming increasingly difficult as more and more mines in South Africa are operating at a loss and are likely to close in the future.

Above and beyond this, the grade of ore has been gradually decreasing and shafts have continued to go deeper and deeper. Some are as deep as 4 km – the world’s deepest.

Despite all of the aforementioned, minerals are still South Africa’s main export. The lessening availability of gold means that the demand for gold is higher than production can often meet. For those selling gold this is good news since it means that the demand for selling gold to reputable dealers, such as Liquid Finance, will increase.

Do your bit for South Africa by selling gold that you no longer want or need. Liquid Finance can offer you an excellent price when selling gold and they offer you a safe and secure transactional setting.