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<p>[QUOTE=&quot;Hobo, post: 402251, member: 11521&quot;]I think you meant to say &quot;tons&quot;. And I&#039;ll also assume you meant <i>metric tons</i>. </p><p>&nbsp;</p><p>1 metric ton = 32,150 troy ounces</p><p>&nbsp;</p><p>2,500 metric tons = 80,375,000 troy ounces of gold mined in 2005 (using your figure)</p><p>&nbsp;</p><p>3,500 metric tons = 112,525,000 troy ounces of gold consumed in 2005 (using your figure and changing pounds to tons)</p><p>&nbsp;</p><p>That&#039;s a shortfall of 32,150,000 troy ounces of gold in one year. Some of that shortfall is made up from reserves, recycling, melting scrap jewelry and Silvertowne melting First Spouse coins <img src="styles/default/xenforo/clear.png" class="mceSmilieSprite mceSmilie2" alt=";)" unselectable="on" unselectable="on" />. </p><p>&nbsp;</p><p>If your figures are correct and demand exceeds new supply by 40% we can probably expect to see gold prices continue to rise - until more supply (from new mines or old mines being dusted off) comes on line.[/QUOTE]</p><p><br /></p>

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