Thursday, January 19, 2006
In its second update of the Gold Survey 2005, GFMS, the London-based precious metals consultancy, estimates that net official sales during 2005 were at the highest level on record, but more significantly that net sales will drop substantially in the first half of 2006, writes Mineweb. Elsewhere on the supply side mine production was up by 30 tonnes while de-hedging amounted to 195 tonnes, meaning that net mine supply actually increased by 263 tonnes to 2,299 tonnes against 2,036 tonnes. Scrap return was up slightly, at 840 tonnes against 834 tonnes in 2004.
(See Mineweb:
Gold supply expected to contract in first half of 2006
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Thursday, January 19, 2006
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