World Gold Council Publishes Q3 2014 Demand and Supply Gold

The WGC posted the Q3 report on gold supply and demand today.

The highlights were that gold demand fell 2% yoy to 929.3 metric tons. This was obvious because Chinese demand declined earlier, (but is now rising again). See how in July till September 2014, the demand was low, but creeping upwards. The Q4 gold demand numbers will be much better.

But the most interesting is that total supply fell 7%, more than the 2% decline in demand. Total supply was 1,047.5 tons. Mining output still went up 1% at 797 tons, but that’s obviously going to go down in Q4. The decline in supply was mostly attributed to the decline in recycled gold. That’s because the common investors don’t sell gold at these low prices.

So the demand and supply numbers are slowly creeping towards each other until we go into deficit soon. In silver we already have a deficit.

Beleggerscompetitie 2014

Here we go again. Beleggerscompetitie 2014 is the Belgian investing competition, it starts today and you can win a Hyundai. You can follow me here on the katchum account.

Last year I was last place, betting on gold mining stocks and shorting the market. This time I think I’ll be a bit higher betting on the same, namely gold mining stocks and shorting the market, I hope…

The Fed will never increase interest rates again

Today Ben Bernanke said he would keep the benchmark rate essentially at zero percent till 2014. Earlier he said he would keep it at zero percent till 2013.

My take on this is that they will never increase interest rates again, until the whole system collapses. Marc Faber already pointed this out in 2010.

Look at what effect it has on the silver and gold price…

To see the whole interview, see below: