The concept
Annual gold is roughly 4,700–5,000 tonnes: about three-quarters from mines and the rest from recycling. splits among jewellery, technology, investment, and central banks.
Why it matters
It frames long-run value drivers.
How markets interpret it
The World Gold Council publishes quarterly Gold Demand Trends reports.
How it may relate to gold
Short-term price moves are usually driven more by investment flows than by supply changes.
Key takeaways
- Mine supply changes slowly.
- Investment demand is the swing factor.
Knowledge check
The main source of gold supply is…
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