Lower Barrick, Newmont Output Weighs on US Gold Production

Precious Metals Investing

Mineweb reported that according to the US Geological Survey, US gold output was down 7 percent in the first nine months of 2014.

Mineweb reported that according to the US Geological Survey, US gold output was down 7 percent in the first nine months of 2014. Responsibility for the decline has been placed partially on lower output from Barrick Gold Corp. (TSX:ABX,NYSE:ABX) and Newmont Mining Corp. (NYSE:NEM).

As quoted in the market news:

For the period from January through September of this year, U.S. gold miners reported a total production of 159,000 kg (5,111,929 oz). Led by Nevada gold mining, which yielded 113,000 kg (3,633,006 oz) during the period, Alaska gold mines produced 24,500 kg, (787,687 oz) while the combined output of gold from Arizona, California, Colorado, Idaho, Montana, New Mexico, South Dakota, Utah and Washington totaled 21,500 kg (691,236 oz).

Click here to read the full Mineweb report.