donderdag 13 november 2014

World Gold Council Publishes Q3 2014 Demand and Supply Gold

The WGC posted the Q3 report on gold supply and demand today.

The highlights were that gold demand fell 2% yoy to 929.3 metric tons. This was obvious because Chinese demand declined earlier, (but is now rising again). See how in July till September 2014, the demand was low, but creeping upwards. The Q4 gold demand numbers will be much better.

But the most interesting is that total supply fell 7%, more than the 2% decline in demand. Total supply was 1,047.5 tons. Mining output still went up 1% at 797 tons, but that's obviously going to go down in Q4. The decline in supply was mostly attributed to the decline in recycled gold. That's because the common investors don't sell gold at these low prices.

So the demand and supply numbers are slowly creeping towards each other until we go into deficit soon. In silver we already have a deficit.

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