In U.S. economic news, data on factory orders and non-manufacturing activity came in better-than expected. January factory orders fell 1% according to the Census Bureau. A slide of 1.6% was expected by analysts surveyed by Thomson Reuters. Meanwhile December's originally reported 1.1% jump in factory orders was upwardly revised to a 1.4% gain. The Institute for Supply Management's non-manufacturing index showed a much better than expected reading of 57.3 for February, up from 56.8 in January. Analysts polled by Thomson Reuters were forecasting a reading of 56 for last month. A report on global gold production has raised fears that supplies may be dwindling. A report from bullion dealer GoldCore noted that of the world's four largest gold producers, only China achieved gains. Australia, the U.S. and South Africa saw declines. This further suggest the possibility of peak gold production," said GoldCore. "Chinese gold is used in China to meet the rapidly growing demand for gold jewellery and coins and bars as stores of value." As a result, the balance between supply and demand is likely toremain tight. Mining stocks were following prices lower on Monday. Among the biggest losers were Great Panther Silver ( GPL), shedding 4.6% to $2.46, and Freeport-McMoRan ( FCX), falling 4.5% to $40.13. Eldorado Gold ( EGO) was losing 4.4% to $14.24 and Silver Wheaton ( SLW) was down 3.9% to $36.10. -- Written by Ross Tucker in New York. >To contact the writer of this article, click here: Ross Tucker. >To follow the writer on Twitter, go to http://twitter.com/rosstucker. >To submit a news tip, send an email to: firstname.lastname@example.org.