| Gold demand and supply, 1996-2004 (tonnes) |
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1996 |
1997 |
1998 |
1999 |
2000 |
2001 |
2002 |
2003 |
2004 |
Yr to Jun'05 |
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| Supply |
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| Mine output |
2,375 |
2,493 |
2,542 |
2,574 |
2,591 |
2,621 |
2,589 |
2,593 |
2,464 |
2,503 |
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| Net producer hedging |
142 |
504 |
97 |
506 |
-15 |
-151 |
-412 |
-270 |
-428 |
- 363 |
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| Total mine supply (inc.
net hedging) |
2,517 |
2,997 |
2,639 |
3,080 |
2,576 |
2,470 |
2,177 |
2,322 |
2,036 |
2,140 |
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| Central bank sales (net) |
279 |
326 |
363 |
477 |
479 |
527 |
545 |
617 |
478 |
686 |
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| Old gold scrap |
644 |
626 |
1,099 |
608 |
609 |
708 |
835 |
939 |
828 |
816 |
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| Total |
3,440 |
3,949 |
4,101 |
4,165 |
3,664 |
3,705 |
3,557 |
3,879 |
3,342 |
3,641 |
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| Demand |
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| Jewellery |
2,841.7 |
3,300.4 |
3,175.7 |
3,143.0 |
3,209.3 |
3,015.6 |
2,666.6 |
2,481.3 |
2,611.4 |
2,806 |
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| Industrial |
387.4 |
419.3 |
393.7 |
412.8 |
451.4 |
362.3 |
356.4 |
379.1 |
407.5 |
410 |
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| Sub-total above
fabrication |
3,229 |
3,720 |
3,569 |
3,556 |
3,661 |
3,378 |
3,023 |
2,860 |
3,019 |
3,216 |
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| Retail
invest. |
259.6 |
452.6 |
263.3 |
359.8 |
165.3 |
356.2 |
339.4 |
291.6 |
342.7 |
403.5 |
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| ETFs
& similar |
- |
- |
- |
- |
- |
- |
3.3 |
39.4 |
132.7 |
198.4 |
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| Total
demand |
3,489 |
4,172 |
3,833 |
3,916 |
3,826 |
3,734 |
3,366 |
3,191 |
3,494 |
3,818 |
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| Balance
(implied other investment) |
-49 |
-223 |
268 |
249 |
-162 |
-29 |
191 |
687 |
-152 |
-177 |
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| Average price, $/oz |
387.87 |
331.29 |
294.09 |
278.57 |
279.11 |
271.04 |
309.68 |
363.32 |
409.17 |
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| Total invest |
211 |
229 |
532 |
609 |
3 |
327 |
534 |
1,018 |
323 |
425 |
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| retail and ETF |
260 |
453 |
263 |
360 |
165 |
356 |
343 |
331 |
475 |
602 |
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