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In an interview with The Daily Telegraph during a London gold conference, Barrick President Aaron Regent said that one could argue that Earth has reached “peak gold,” as new supplies of the ore are increasingly difficult to find.

“The supply crunch has helped push gold to an all-time high, reaching $1,118 an ounce at one stage yesterday,” the paper noted. “The key driver over recent days has been the move by India’s central bank to soak up half of the gold being sold by the International Monetary Fund. It is the latest sign that the rising powers of Asia and the commodity bloc are growing wary of Western paper money and debt.”

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    • Inky99 on November 16, 2009 at 11:54 pm

    if the guy who owns one of the biggest gold companies in the world is saying this in order to drive up the price.  😉

    Although it wouldn’t surprise me that they’ve strip-mined the planet dry.

    Sure wish I didn’t have to sell what little I had!   It just broke 1140/ounce

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