CNBC Bonus Bucks Trivia: On June 25, Erste Bank’s Ronald-Peter Stoferle predicted a massive gold price rise. What is the “total demand for gold”?

On June 25, Erste Bank’s Ronald-Peter Stoferle predicted a massive gold price rise. What is the “total demand for gold”?

Total demand for gold is around 3,600 metric tons but global miners produce only around 2,450 metric tons annually, with the deficit compensated by central bank sales and recycling, said Stoferle, adding that the gap between demand and supply widened last year and was likely to continue to do so.

Disclosure: Author is long STREETTRACKS GOLD (GLD) at time of publication.

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