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Please note: The Frank Talk articles listed below contain historical material. The data provided was current at the time of publication. For current information regarding any of the funds mentioned in these presentations, please visit the appropriate fund performance page.

Peak Gold Production

February 1, 2010

From the latest Weekly Investor Alert, a publication of U.S. Global Investors:

Research from Cormark Securities shows that global gold production peaked in 2001 at 2,600 metric tons (chart below). World output has been steadily declining from that point because of lower grades and higher capital costs that are making it uneconomic for producers to bring new gold onto the market.

GLD - Gold Production Since 1950 - 012910

The China Gold Association said China’s gold output jumped 11.3 percent to a record of 314 metric tons in 2009 (a little over 10 million troy ounces), securing its position as the world’s largest gold producer for the third straight year.

Investment demand for gold continued to be robust in late 2009. The World Gold Council said investors bought 30 metric tons via exchange-traded funds in the fourth quarter of 2009, contributing to an overall total of 1,762 metric tons (56.6 million troy ounces) of ETF holdings for the year.

India started the year on a positive note by importing 35 to 40 metric tons of gold during the first 27 days of January, up from 9.8 metric tons last January. Stable prices have given 2010 a good start to gold demand, the Bombay Bullion Association said.

The Weekly Investor Alert, compiled by the Investment team at U.S. Global Investors, provides timely and insightful coverage of gold, commodities and emerging markets. Click here to sign up for this valuable investing resource.

Net Asset Value
as of 05/24/2019

Global Resources Fund PSPFX $4.31 0.05 Gold and Precious Metals Fund USERX $6.53 0.04 World Precious Minerals Fund UNWPX $2.51 0.01 China Region Fund USCOX $7.91 0.05 Emerging Europe Fund EUROX $6.53 0.05 All American Equity Fund GBTFX $23.95 -0.02 Holmes Macro Trends Fund MEGAX $16.43 0.14 Near-Term Tax Free Fund NEARX $2.21 No Change U.S. Government Securities Ultra-Short Bond Fund UGSDX $2.00 No Change