This year’s global gold supply will fall because of the Covid-19 pandemic, which has forced mine closures in major centres such as SA and Mexico. However, with prices forecast to test fresh highs, demand is expected to come under pressure.

SA and Mexico rank eighth and ninth in global gold production, respectively, with output of 118 tonnes and 111 tonnes. Metals Focus, a UK-based precious metals consultancy, said in its Gold Focus 2020 report that these two countries would be hardest hit by decisions by their governments to curtail the spread of the coronavirus.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now