Based on Supply and Demand data collected by the World Gold Council during the first half of 2018, it is obvious why the price of gold continues to struggle: oversupply.
Production remains relatively constant, but demand is shrinking. The wholesale market (bullion banks) may have to absorb and addition 503 tonnes of new inventory on top of existing holdings until either demand picks up or production capacity begins to fall.
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Oversupply of gold
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