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China and India combined consumption exceeds world’s total mine supply

The latest statistics have revealed that China and India have a combined gold consumption which exceeds the total amount that is currently being mined. The report publishing the statistics was released by Bloomberg Industried Head of Metal and Mining, Ken Hoffman. Combines, the two countries have a combined consumption of 8 million ounces a month. The shockingly high consumption rate persists even in the face of import restrictions in India. The same report calculates that the amount of gold currently being mined and put into market is around 7.5 million ounces, which means that there is a deficit of...
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