Gold deficit soars in Q1 2016

The last time we had the following gold demand and supply situation.

A new report is out for first quarter 2016. Gold demand was 1289.8 tonnes, up 21% yoy. Gold supply is 1134.9 tonnes, only up 5% yoy. So deficits have increased to 151 tonnes which is a record.

Here is my new chart:

This bodes well for higher gold prices.