Who does a gold mining company sell their gold to?
I was researching Barrack Gold Corporation and it dawned on me that I have no clue as to where all that gold goes after it’s mined. I’m hoping someone out there could clue me in.
Thanks!
Blue
It’s worse than you think. I don’t know about Barrack, but gold mines typically sell gold years in advance, to finance expansion and protect themselves against price variations. Anybody can buy gold futures.
You can look gold futures here:
http://www.nymex.com/gol_fut_cso.aspx
Grandpa
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