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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: mishedlo who wrote (90671)	11/22/2008 2:20:21 PM
From: forceOfHabit	Read Replies (2) \| Respond to of 116555

mish, Industrial and jewelry use of gold is about 3% or so. Say what? According to the prospectus for GLD (http://www.spdrgoldshares.com/sites/us/prospectus/), the total supply of gold in 2007 (including mine production, official sector sales, recovered gold scrap, and net producer hedging) was 3,467 tonnes. Gold used in jewellery fabrication was 2,401 tonnes. Slightly more than 3% no? Like by a factor of 20 or so. Not to mention another few hundred tonnes used in industrial applications (mostly electronics). So where did you get that 3% number from?? habit