Via goldsilver.com:

New discoveries

Amount of new gold discoveries has been trending down for a long time.

 

Explroation spending

Miners capital spending to find new gold deposits is stair stepping lower.

 

Gold

Gold reserves owned by major gold mining companies are plunging.

So to sum up:

  • Less and less gold is being discovered world wide.
  • Gold miners are decreasing the capital expenditures in trying to find new gold to replenish their portfolio.
  • … Thus it is not surprising to see reserves being depleted.

In light of these trends, it is not hard to see why some people (including myself) are very bullish on gold going forward.

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