Where gold comes from and goes
comes mostly from mine production (roughly three-quarters) and recycling. comes from jewellery, technology, investment (bars, coins, ETFs), and central banks.
Mine supply changes slowly, so shifts in investment demand usually explain short-term price moves better than supply changes.
Key takeaways
- Supply: mining + recycling.
- Demand: jewellery, tech, investment, central banks.
Knowledge check
The largest source of gold supply is…
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