The WGC issued the Q4 report today.
Q4 demand grew from 930.0t to 987.5t (+6%).
The supply of gold in the fourth quarter shrank by 2% (from 1113.4t to 1091t).
This means that the surplus in gold is shrinking once again. And I expect supply to keep shrinking.
I still need to update the chart below for Q4 2014 when I get the chance, but at least you'll see the trend.