a bit of fun, pog for 2014, page-122

"Yet another gold-bear throwaway line without substantiation. The technology sector and jewellery industry make up over 50% of the annual demand for gold, and have done so for a long time!"

You're wrong 5hareholder and Skol is right. Gold Technology demand is negligible to the point of non existent. Jewelry demand is uncorrelated to price and therefore irrelevant.

ALL THAT MATTERS IS INVESTMENT DEMAND. When investors decide to sell watch out below. It's all about stock and flow... check out import/export data for China, UK and America in the last three years.

All of the gold ever mined still exists and much of it is held by investors, 35,000 tonnes according to GFMS. Many of these investors were selling in 2013, particularly the institutions.