Looking ahead longer-term, a key driver of the yellow metal’s price is expected to be a steady decline in global output year after year. The following chart, borrowed from Barrick Gold CEO Mark Bristow’s presentation this week at BMO Capital Markets Global Metals & Mining Conference, shows that global gold production will begin to taper off starting next year, and by the end of the decade, should be at multi-year lows. No region is expected to see an increase in production.