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Since our last conference in November 2019, we have seen a sustained rise in the $US gold price from the vicinity of $1500
to break through the $2000 mark for the first time and reach an all-time record high of $2067 on 6 August 2020. This is a far
cry from the price of $1080 at this meeting in 2015 or $1275 in 2017! The price stayed above $2000 for a few days before
settling back and for the past 12 months it has broadly hovered around $1800—still a very healthy price for producers.
Today’s price is $1825.
The $A gold price has broadly tracked the trends in $US gold prices and it also reached an all-time record peak of about
$2874 in the first week of August 2020. It has since settled back and is cycling around the $2400 mark. Today’s price is
$2450.
It goes without saying that the sustained high prices for gold have translated into elevated gold production and the most
buoyant company profits we have seen in years.
