China and India definitely consuming more gold than the world mines

`` The Bloomberg figures suggested that China was consuming gold at a rate of 5.15 million ounces a month and India - even at a reduced rate through import restrictions - 2.85 million ounces a month, making a total of 8 million ounces a month. And these figures may even understate the case... Meanwhile Bloomberg calculates global new mined gold output at some 7.44 million ounces a month making for a deficit of 0.56 million ounces a month.''