Supply and Demand
2009  -  2014

Gold Facts

two ounce gold nugget

Gold is a chemical element with the symbol Au, the symbol comes from Latin word "Aurum" meaning "Gold."

Gold's atomic number is 79. Gold is a dense, soft, shiny metal, and is the most malleable and ductile metal known.

Pure gold has a bright yellow color, which it maintains without oxidizing in air or water.

Gold is a valuable and highly sought-after precious metal for coinage, jewelry, and other arts since long before the beginning of recorded history.

The metal occurs as nuggets or grains in rocks and in veins deposits.

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Gold Supply and Demand

World Gold Mine Production

world gold mine production 2009 - 2014

Gold Supply and Demand

Over the last 5 years worldwide gold mine production has skyrocketed in some countries while at the same time production has diminished in others. 

China stands out in the chart as the world's largest gold producer.

Canada, Russia and Australia also increased gold output.

Gold Mine Production decreased in Indonesia due to union strikes and the government shutting mines down over safety.

Gold production also decreased in Peru due to government enforcement against illegal gold mines. See article here. 

Furthermore, South Africa gold mine production has been in contraction, since the early 90's.

South Africa, was at one time the world's largest producer of gold, but now due to lower ore grades and mine closings, the country is expected to see continued mine production decreases.

Gold Supply and Demand

Gold Supply

gold supply 2009 thru 2014

Gold Supply and Demand

Gold Price & Supply

gold price and supply 2009 thru 2014

Gold Mine Production

Overall gold mine production has been on a constant rise over the last five years, this is the exact same trend found on the Silver Supply and Demand charts found here

Just like silver, before 2011, as the price of gold was climbing to new heights,  gold miners were signing contracts for new production, making them liable, in the future, for gold or money agreed upon with the client on the contract.

This is the reason why production has continued to increase over the years. 

But, due to expired contracts, lower ore grades, lower gold prices and bankrupt companies, gold mine production is expected to start coming down, in the future.

Recycled Gold

The decrease in Recycled Gold should not be surprising to anyone. 

Remember when gold was making its way up to $1900 a troy ounce, and just about everywhere you looked you saw advertisements stating "WE BUY GOLD," well,  those signs have been slowly going away since the price of gold started to fall in mid-2012.

As the price of gold has decreased, so has recycled gold because people are no longer interested in selling their old jewelry and other items for extra cash.

Gold - Net Hedging

The biggest surprise came from those who would hedge gold, namely the gold miners.

In any scenario, when a company hedges it is making an investment to reduce the risk of adverse price movements in an asset.

For instance, if in 2011, let's say you owned a gold mine, but weren't sure if gold was going to stay at its high price, you would have tried to hedge the gold that was in stock or still unmined to retain the value of your investment.

But very few gold miners did this.

It seems, that the novice who sold his/her Recycled Gold before the price fell was smarter than the professionals who mine it.

The Definition of "Net Hedging" from the World Gold Council states:

That "Net Hedging" is; the change in the physical market impact of mining companies' gold forward sales, loans and options positions. Hedging accelerates the sale of gold, a transaction which releases gold (from existing stocks) to the market.  Over time, hedging activity does not generate a net increase in the supply of gold.  Dehedging, has the opposite impact and will reduce the amount of gold available to the market in any given quarter.

Gold Demand

2009 thru 2014 gold demand

Gold Supply and Demand

Gold Price & Demand

gold price and demand 2009 thru 2014

Overall, the numbers and comparisons in the Gold Demand charts speak for themselves.

To find the World Gold Council's interpretation of these numbers displayed in the charts above, you can click the links in the sources box below. 

Gold Price Charts

Click the Links below to go to the Gold Price Charts page which offers you the following:

Gold Price Charts

1) Gold Candlestick Chart - 14 month chart 

2) Gold Trend Power Chart - 5 day chart 

3) Gold Foreign Currency Charts - 1 day charts 

4) Gold Historical Chart - 45 year chart

Sources: Gold Supply and Demand: - Gold Statistics & Information 

World Gold Council - Gold page

Gold Supply and Demand

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