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Executives of major gold mines: The industry’s crisis will not end soon

Executives gathered at the Denver Gold Forum last week were unanimous in their view that the current economic environment is unprecedented. Gold producers are grappling with the fallout from the U.S. central bank’s decisions: efforts to fight inflation have boosted the dollar and pushed down precious metal prices. Gold prices are under pressure and shares linked to the yellow metal are falling. The value of gold companies decreased by 16 percent this year, and the precious metal itself – by 7.9 percent.

“We live in exciting times where the global economy and geopolitical environment have reached another inflection point,” Barrick Gold Corp. CEO Mark Bristow said at a conference in Colorado. “It can be said that the last time we faced such uncertainty was during the Second World War.”

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