gold: supply and demand summary tables-tonnes

  1. 22,691 Posts.
    To read the following Exel tables, one needs to register, otherwise these tables can't be sighted:

    IN TONNES: WORLD GOLD SUPPLY AND DEMAND SUMMARY TABLES FOR 2002-04

    AND THE FIRST TWO QUARTERS OF 2005:

    Summary: The Supply from all sources in the first 2 combined quarters of 2005 was $1943 tonnes while the demand was 1997 tonnes, leaving a supply deficit of 54 tonnes.

    However, Official sources are allowed to supply 500 tonnes per year only or 250 tonnes per 6 months. They supplied 405 tonnes already for the 6 months.

    So, strictly speaking, the Gold Supply deficit for the 6 months was: 54 tonnes + (405-250 tonnes)= 209 tonnes.

    The hedging was 428 tonnes in 2004. This decreases the supply by that amount. In 2005, that decrease may only be some 200 tonnes or less. So, for the 6 months, the supply decrease from hedging was some 107 tonnes instead of the expected 428/2=214 tonnes.

    Net Retail Investment demand was 342 tonnes for the whole of 2004 and 230 tonnes for the first 6 months in 2005. I am expecting a 49% increase for 2005 or total investment demand of 510 tonnes in 2005. Much depends on the pickup in Demand. This number could be conservative.

    Gerry
    Readers, please do your own research and you decide if and when to buy, hold or sell any stocks.

 
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