“Recycling accounted for 37 percent of total supply last year, according to Barclays Plc, which forecasts recycled sales of the metal to fall by 174 tons this year.  Gold is heading for the first annual drop in 13 years after some investors lost faith in the metal as a store of value, cutting bullion-backed fund holdings to the lowest since May 2010. Prices rebounded 13 percent from an almost three-year low last month as demand for jewelry and coins rose.  Bullion dropped a record 23 percent in the second quarter as the Federal Reserve indicated it may slow its monthly debt buying if the economy improves.”

http://www.bloomberg.com/news/2013-07-24/gold-scrap-supply-to-drop-up-to-25-as-lower-prices-deter-sales.html

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