Eric Sprott: Investment Outlook (October 2012)

Footnotes:

1 http://www.bloomberg.com/news/2012-09-04/central-bank-gold-buying-seen-reaching-493-tons-in-2012-by-gfms.html

2 See notes in Chart A.

3 http://www.gold.org/government_affairs/reserve_asset_management/central_bank_gold_agreements/

4 http://www.imf.org/external/np/exr/faq/goldfaqs.htm

5 Mine supply estimate supplied by World Gold Council; YTD gold mine production data suggests that total 2012 gold mine supply will come in lower around 2,300 tonnes, ex Russia and China production. In addition, Frank Veneroso has recently published a new report that warns that the supply of recycled scrap gold could drop significantly going forward due to the depletion ofthe inventories of industrial scrap and long held jewelry over the past decade.

6 http://www.ecb.int/pub/pdf/other/statintreservesen.pdf

 

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