The sharp rise in the price of gold last year made gold miners make a lot of money. Metals Focus's latest report points out that although many miners' output was affected by the epidemic last year, profits were strong.
The report points out that this is mainly affected by the sharp rise in the price of gold.
Gold miners' gross margins reached a record $828 an ounce last year, up from $666 an ounce in the 2011 bull market, according to specific data.
In addition, the total maintenance cost of gold miners increased by 1.8% (AISC) last year, but the 27% increase in gold prices is almost negligible.
Although gold prices are down about 8% this year, Metals Focus expects profits in the gold mining industry to remain healthy this year.
"We expect the AISC of gold miners to decline this year, mainly due to the reduced impact of the epidemic on production."
In addition, although the profits of silver producers also increased significantly last year, they are still far from the top level.
