Supply of Gold is Bottoming Out, Analysts Predict

As gold soars past $530 an ounce, the same talk of peak oil that accompanied this year’s energy price boom is starting to resurface, only this time its about how much gold is left to mine and how quickly producers can mine it.

The industry is reeling from high production costs. Currency fluctuations and rising commodity prices have made the energy-intensive work of mining gold all the more expensive, forcing companies to mothball pricey projects.