The interest for exploration is closely connected to the metal prices on the world market. Gold, copper and iron ore are the three dominant metals and together they account for about two-thirds of the total value of all metals produced.
Gold is priced in USD per troy ounce (oz.) with purity above 995 fine, corresponding to approximately 23.9 carat. One oz. corresponds to 31.104 grams. Gold is traded on a global market and differs from other metals through its status as monetary asset.
Gold has through the years provided the basis for different currency systems and has therefore rarely been priced as a regular raw material. Unexpected events in society are often reflected in the gold price. Concern about increasing inflation is another factor considered to affect the gold price positively.
The average gold price over the last five years has been approximately 1,100 USD/oz. In 2011, the average gold price was 1,757 USD/oz.
