World Gold demand in the retail and in the investment sector is now all-time highs, however estimates suggest that the world will only produce 76.8MM troy ozs during 2008 marking a 9% decline in world Gold production since 2001 as the Bull Market in Gold is growing and in a up-trend. The market has already pushed gold prices over 300% higher since 2001, and now with the world’s demand for Gold beginning to significantly outpace supplies, higher prices are predicted by analysts. During Q3 there was a 10.5MM oz deficit (US$8.5B) in world’s supply and demand of gold. Global Gold demand increased over 50% since Q2 while supplies dropped 64% year-on-year.
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