Loading prices...

Register/Sign in
ScrapMonster
Are ads getting in your way? Register for Ad-free pages and live data.
Get an instant offer on your damaged car
Gold July 15, 2022 02:00:39 PM

Gold AISC Hit Fresh Peak in Q1 2022: World Gold Council

Paul Ploumis
ScrapMonster Author
The average gold industry AISC margins fell to $646 per Oz, dropping by 3% over the prior quarter.
Gold AISC Hit Fresh Peak in Q1 2022: World Gold Council

SEATTLE (Scrap Monster): The all-in sustaining costs (AISC) of gold surged higher by approximately 9% over the previous quarter to reach $1,232 per Oz during the first quarter of the current year, said the latest report published by Metals Focus and quoted by the World Gold Council (WGC). The AISC in the gold mining industry touched the highest level on record during the quarter.

ALSO READ:

WGC Published June 2022 Chinese Gold Market Report

World Gold Council Analyzes Reasons for Recent Dip in Gold Prices

The surge in AISC was primarily driven by rise in input costs including diesel prices, electricity tariffs, high wage rates and prices of consumables. The 4% quarter-on-quarter dip in average head grades and significant jump in US dollar costs recognised in local currencies also contributed to the surge.

The average gold industry AISC margins fell to $646 per Oz, dropping by 3% over the prior quarter. The sharp rise in average dollar gold price over the quarter mitigated the fall. The margins of gold mining industry have dropped by almost one third from the peak hit during Q3 2020. However, they still remain relatively high historically, on account of continued strength in gold prices.

Meantime, the rate of increase of AISC for the 90th percentile of the cost curve stood significantly less than the average.

The report predicts further reduction in industry margins during Q2 this year, due to relatively flat gold prices over the previous quarter.

Are ads getting in your way? Register for Ad-free pages and live data.

How to Recycle

Proper Disposal of Alkaline Batteries

Proper Disposal of Alkaline Batteries

Improper disposal of alkaline batteries can result in various negative consequences. Explore our blog post to discover safe disposal methods.
Christmas Tree Recycling - Responsible Ways

Christmas Tree Recycling - Responsible Ways

Proper preparation and using a reliable Christmas tree recycling directory ensures responsible disposal and maximizes the benefits.
Stop Throwing Away LED Light Bulbs -- Do This Instead

Stop Throwing Away LED Light Bulbs -- Do This Instead

Stop throwing away LED light bulbs and dispose of them responsibly. Proper disposal ensures environmental safety and sustainability.
powered by RecyclingMonster
Are ads getting in your way? Register for Ad-free pages and live data.
×

Quick Search

Advanced Search