NYSEAM:ANV - Post by User
Comment by
skys1on Jun 03, 2014 1:56pm
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Post# 22625633
RE:RE:New 52 Week Low ---$2.97
RE:RE:New 52 Week Low ---$2.97If you believe world gold demand is lower than world gold production, you are in la la land. World production is 24 to 2800 tons X China and Russia(because they don't allow 1 oz. to be exported-they keep it all). China alone imported more than roughly 3000 tons last year. More than the entire world production. Where did the supply for the rest of the world come from last year? From draining the FTFs like GLD, central banks, and scrap, but the scrap is shrinking rapidly because the price is down and much of the available scrap has been sold over the past 5 or 6 years of the run up. Contrary to your belief, world gold demand is way above world gold production.