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Gold/Mining/Energy : Gold Price Monitor -- Ignore unavailable to you. Want to Upgrade?

To: long-gone who wrote (48371)	2/7/2000 3:04:00 PM
From: goldsheet	Respond to of 116762

> doesn't +5m oz still make the number short of demand? Primary mine production is ALWAYS short of demand, which results in the most deceptive and WRONG chart many of the goldbug newsletter writers love to use: the gap between TOTAL demand and ONLY primary mine production. TOTAL supply = TOTAL demand If you average out a few years and round to simply the discussion, we are talking about a 120 million ounce equation. SUPPLY -------------------------- Primary mine: 80moz 66.7% Scrap: 20 16.7 Forward: 10 8.4 Central Bank: 10 8.4 DEMAND -------------------------- Jewelry: 90moz 75.0% Electronics: 10 8.3 Hoarding 10 8.3 Other 10 8.3 If one compared only the primary mine production of aluminum to total aluminum demand, ignoring recyling, one could make a much more impressive and bullish looking charts than the so-called case for gold. I was looking at these numbers and my XAU/AU charts when I dumped almost all of my gold shares in January 1996.