Used Gold Supply Heads for ’08 Low as Sellers Balk

[Unbeatable]

Not only do artificially low gold prices affect the miners but consumers are rightly refusing to sell their gold/jewellry/scrap etc. at these prices.

http://mobile.bloomberg.com/news/20...s-for-08-low-as-sellers-balk-commodities.html

Consumers will sell the least used gold in five years after prices tumbled into a bear market, curbing a source of metal that typically accounts for about one in every three ounces of global supply.
Refiners will handle about 1,550 metric tons of old jewelry and other discarded metal this year, 4 percent less than in 2012 and the least since 2008, Toronto-based TD Securities Inc. estimates.

Supply & Demand....

 

[rblong2us]

oh dear

when even the shoeshine boy knows that gold is underpriced ...............

 

[Unbeatable]

The original post estimated a 4% decrease in Scrap gold supply but now -

Gold scrap supply likely to drop up to 25%. Scrap bullion supply could fall by 300 to 400 tonnes in 2013 from about 1,600 tonnes last year, according to Marcus Grubb, managing director of investment research at the World Gold Council.

http://www.business-standard.com/ar...y-likely-to-drop-up-to-25-113072401183_1.html

 

[rblong2us]

those cash4gold operators have probably teased out all the 'low hanging fruit'
I reckon it would have happened anyway.

Anyone who hasnt sold their jewelery will likely be a bit smarter and be prepared to hang on to it ..........


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