Since the turnaround in the price of gold since Q1 2016 both sustaining and cash costs have risen with the former up a whopping 22%.
On Wednesday gold capitalized on the dramatic drop in US equities, briefly piercing the $1,350 an ounce level only to end the day at breakeven as stock markets staged a remarkable recovery.
Year to date gold has gained just under 4% as the metal extends a bull run in place since end-2015. Gold bottomed at a whisker under $1,050 after a four-year slide from all-time highs in 2011 above $1,900.
New York-based CPM Group in its 2018 Gold Yearbook points out that the best indicator of trends in gold mining costs is, quite simply, the price of gold...