Gold Supply Rises 2% In 3Q

[lektrode]

is this kind of stuff relevant, or simply noise?

WGC: Gold Supply Rises 2% In 3Q As Mine Output, Recycling Increase

http://www.kitco.com/reports/KitcoNe...ne_outpou.html

17 November 2011, 1:00 a.m.
By Kitco News
http://www.kitco.com/

(Kitco News) - The global supply of gold in the third quarter rose 2% from a year ago as both mine production and the amount of metal recycled increased, the World Gold Council reported Thursday.

Total supply was pegged at 1,034.4 metric tons, up from 1,013.0 tons in the same period of 2010.

Mine production increased by 5% to 746.2 tons from 710.9 tons during the third quarter of 2010 as a number of operations came on stream or ramped up production around the world, the report said. “Growth was geographically widespread, across the African, CIS (Commonwealth of Independent States) and Latin American regions,” the WGC said.

Recycling of scrap jewelry and other gold accounted for 426.5 tons of supply in the third quarter, up 13% year-on-year from 379.1 tons.

“However, taken in the context of the 39% (year-on-year) rise in the quarterly average price over the same period, this can be interpreted as a relatively subdued result,” the WGC said. In fact, despite record-high prices in the third quarter, the supply of recycled gold remained well below the quarterly peak of 609.8 tons in the first quarter of 2009, when the average price was still below $1,000 an ounce.

The WGC listed two factors for “restraint” in gold recycling--an expectation among consumers for still-higher prices, plus they have already sold many of the old items they wanted to recycle.
The report cited some producer hedging activity in the third quarter but termed it “insignificant” at 10 metric tons. This compared to de-hedging of 54.4 tons in the year-ago period.

Meanwhile, the official sector was effectively a “negative” source of supply for the market, the report said. Net purchases amounted to 148.4 metric tons in the third quarter.

[FRED]

Re: Gold Supply Rises 2% In 3Q

is this kind of stuff relevant, or simply noise?

WGC: Gold Supply Rises 2% In 3Q As Mine Output, Recycling Increase

http://www.kitco.com/reports/KitcoNe...ne_outpou.html

The World Gold Council reported today that gold demand was up 6% year-over-year in Q3 2011 due primarily to rising investment demand.

[Mega]

Re: Gold Supply Rises 2% In 3Q

Its going to get KILLED.......K I L L E D !!!!!...........Oh ok, i get my coat..............
BTW Watch Oil, its going up & i thought it would fall as $ demand drives $ higher?
Mike

[Starving Steve]

Re: Gold Supply Rises 2% In 3Q

Its going to get KILLED.......K I L L E D !!!!!...........Oh ok, i get my coat..............
BTW Watch Oil, its going up & i thought it would fall as $ demand drives $ higher?
Mike

Until the eco-bunch can get oil out of their windmills and solar panels, the future looks very bright for oil prices. And add to this, the eco-bunch ( the Sierra Club and that whole bunch ) are making for needless delays in the Alberta tar sands oil pipeline construction from the tar sands in North-east Alberta to the Texas Gulf Coast. If that were not enough, the eco-bunch is also blocking the oil pipeline from the Alberta tar sands to the Pacific Coast via British Columbia..... So, oil is going to go up in price, starting next year. That should come as a shocker to Americans, like maybe $5 per gallon gasoline, with Americans out of work and deep in despair already.

I don't see any future in gold at this price level, nor anywhere near this price level, but the oil market is a whole different ballgame.

I notice the unrest in American cities this morning (Nov. 17th) with the protesters holding-up signs like, "We are the 99%,".... Well, next year they will be the 99% at the bottom of the economic pyramid, and with $5 per gallon gas to enjoy.

[Slimprofits]

Re: Gold Supply Rises 2% In 3Q

The World Gold Council reported today that gold demand was up 6% year-over-year in Q3 2011 due primarily to rising investment demand.

http://www.ft.com/cms/s/0/c0025500-1...#axzz1dzT3dATM

Central banks made their largest purchases of gold in decades in the third quarter as a sharp drop in prices in September spurred buying to diversify reserves.

The scale of the purchases at 148.4 tonnes on a net basis was far bigger than previously disclosed and puts central banks on track to buy more gold than at any time since the collapse of the Bretton Woods system 40 years ago, the last time the value of the dollar was linked to gold.

[charliebrown]

Re: Gold Supply Rises 2% In 3Q


-- tin foil hat on --

Is this peak oil? Moving prices up to $100.00 a barrel when world economic growth slows?

Why would BHO delay the pipe line?

Why does BHO ignore Harold Hamm when Hamm says there is 500K BPD to be extracted out of N. Dakota?

The argument is that he wants to apease the radical environmentalists for the election, but I don't believe there are
that many of those, and I think the fed would rather have dollars pouring in the treasury right?

Do the powers want the highest oil price possible, but just high enough not cause a melt down?

I used to do revenue management for an airline, and it was well known that you do not want
to fill every seat in the aircraft. You want the function, # passengers x ticket price, maximized.
Is someone doing the same for oil? maximizing, # barrels in reserve x price per barrel.

Why does BHO bless drilling in Brazil, while shutting it down in the Gulf?
Why does BHO bless canadian oil heading to the west coast and to China?

If oil must be railed from ND to Cushing, what about the risk of de-railment vs. the risk of a pipe line breach?
If oil must be tankered from Brazil, to the Gulf, what about a tanker wreck?

Are we being played?

-- tin foil hat off --

[lektrode]

Re: Gold Supply Rises 2% In 3Q

...

Are we being played?

hat-on: NAH!... ya think? /hat

(at 1630 est thu/17)

Crude Oil	98.94	-3.65	102.59
Gold	1721.6	-52.7	1720.2
E-mini Dow	11743	-102	11845
E-mini S&P 500	1215.50	-15.50	1231.00

24 Hour Silver

24 Hour USDX

[Starving Steve]

Re: Gold Supply Rises 2% In 3Q

At 50cents per gallon of gas, the pennies spun-by at the pump, and made a soft blur. That was back in 1974 or so. And next year at $5 per gallon of gas, that is approximately thirty-eight years later, the dimes will spin-by at the pump to make for a soft blur.

Now add to the dimes spinning-by in a soft blur, maybe a twenty gallon empty tank every two or three days in your pick-up truck, a hungry stomach, a house without heat, alimony payments, truck payments, house payments, tuition payments, no job, no union, no Medicare, no medical care, and a new baby on the way........ That will be America next-year.

Meanwhile, the eco-bunch is blocking a vital oil pipeline from Alberta to Texas, and your city planners want to hold land off of the urban land market in order to drive-up housing prices, prevent the dreaded "urban sprawl", and protect "the rare and endangered San Francisco County field-mouse".

The Occupy Wall Street protesters need to move their protests over to the front of their local Sierra Club or Greenpeace office. Or maybe take their protest to the door of their local city or county planning department. Protesters in Washington, DC might move their protest over to the EPA--- or maybe to the federal courts that have allowed the EPA and the environmentalists to get away with this outrage against people for decades.

Gold? Who cares what gold is going to be worth next-year? The question is how are we going to eat?

LEAN FORWARD.

[Master Shake]

Re: Gold Supply Rises 2% In 3Q

Maybe it's not all the eco-bunch who influenced Obama on the pipeline. I've read that Warren Buffett would like to see it held up, as BNSF would lose a lot of business when it became operational. Sir Warren is a big Obama supporter.

[lektrode]

Re: Gold Supply Rises 2% In 3Q

+1
tho i'm not quite on the same page here, mr steve - i do agree.

the issue present tense IMHO, is that the EPA has been taken over/hijacked by enviro-radicals -
of the same stripe that burnt the 2 elks restaurant at the top of vail:
http://en.wikipedia.org/wiki/Operation_Backfire_(FBI)

but we absolutely need the EPA, otherwise we'd have air/water that looks like china's.

At 50cents per gallon of gas, the pennies spun-by at the pump, and made a soft blur. That was back in 1974 or so. And next year at $5 per gallon of gas, that is approximately thirty-eight years later, the dimes will spin-by at the pump to make for a soft blur.

Now add to the dimes spinning-by in a soft blur, maybe a twenty gallon empty tank every two or three days in your pick-up truck, a hungry stomach, a house without heat, alimony payments, truck payments, house payments, tuition payments, no job, no union, no Medicare, no medical care, and a new baby on the way........ That will be America next-year.

Meanwhile, the eco-bunch is blocking a vital oil pipeline from Alberta to Texas, and your city planners want to hold land off of the urban land market in order to drive-up housing prices, prevent the dreaded "urban sprawl", and protect "the rare and endangered San Francisco County field-mouse".

The Occupy Wall Street protesters need to move their protests over to the front of their local Sierra Club or Greenpeace office. Or maybe take their protest to the door of their local city or county planning department. Protesters in Washington, DC might move their protest over to the EPA--- or maybe to the federal courts that have allowed the EPA and the environmentalists to get away with this outrage against people for decades.

Gold? Who cares what gold is going to be worth next-year? The question is how are we going to eat?

LEAN FORWARD.

[lektrode]

Re: Gold Supply Rises 2% In 3Q

Maybe it's not all the eco-bunch who influenced Obama on the pipeline. I've read that Warren Buffett would like to see it held up, as BNSF would lose a lot of business when it became operational. Sir Warren is a big Obama supporter.

+1
now that is a conspiracy theory that eye have no trouble in believing what-so-evah....