Global gold supply in deficit this year, even more so next

The WGC’s Gold Demand Trends data puts global supply for the 12 months to end-September over and above new mined production at 1,143.5 tonnes. Taking our own figures for Chinese and Indian demand as being approximately equal to global new mined production that suggest to us that gold supply is going to be in deficit this year to the tune of around 420 tonnes plus, which is fairly substantial in the supply/demand equation (around 10%).

Global gold supply in deficit this year, even more so next