Gold prices fell 26 per cent in 6 months, leading critics to declare the gold bubble has burst.
Gold prices have dropped to below $US1400 an ounce, from a high of $US1900 in September last year. Experts believe this is the beginning of further decline.
Economist at gold investment and trading company Gold Oz Neil Charnock believes gold prices could go as low as US$900 as the market is going through a 'correction' phase that is believed to last for at least 12 months.
As gold prices fall and operational costs rise, Northern Star Resources managing director Bill Beament said the gold sector has to reinvent itself.
An infographic from Visual Capitalist shows how much gold mining costs around the world, and which continent mines gold at the cheapest price.