85% of gold is used in industrial applications, 15% for investment. Probably for silver, the percentage for industrial applications is even higher. Since industry is going down the drain because of the coming bust (China, etc.), industrial demand for gold and silver is clearly falling. The price is not manipulated as much as the gold and silver bugs think, this theory is only around because of their rationalizations. Sure, they might manipulate $1 or $2. I think for gold and silver, the price will fall even further, before investment demand finally takes over industrial demand.
Meanwhile, use of bitcoin is growing and the price reflects that.
So, imo, there is no supply&demand price contradiction, neither for gold, nor for bitcoin.
85% industry 15% investment..
the numbers of pre millennium were probably
99% hoarded and not on any market.
0.85% sold to industry
0.15% sold to investment firms
now its more like
80% hoarded
8.5% industry
1.5% investment firms and
10% international retail(think dubai)
now the financial and retail market is saturated with gold