gold production only adds 1.5% to the existing volume. Its like...

gold production only adds 1.5% to the existing volume.

Its like a company's shares on the stock market... more shares don't have to be issued to meet demand... exiting ones change hands at the market price decided between seller and buyer.

If there was a disconnect between paper and physical price, you'd see shortages because price controls always do this.

But there has been no evidence of this... backwardation in the futures market, the Chinese unable to import the bullion they need etc.