The Peru Mining Ministry monthly dataset has just hit the streets and as far as gold goes, November sucked bigtime. Since January 2003 (as far as my records go back, which is far enough under the circumstances) it’s the second worst on record, only underdone by June 2007. Here’s a chart:
That’s 12,089,064 grams of gold (388,716 ozt), which is around 60,000 oz less than the average of the last few months.And below, here’s how gross gold revenues stand (we use the average London PM fix for each month).
And watch out folks, because in November gold still averaged U$1739/oz, plenty above the December (and current) number. Dutch disease….mmmm….