Gold discoveries, or the supply and demand for gold, are a less significant driver of gold prices than for most other commodities. The reason for this is that:
1. Gold inventories greatly exceed annual production and consumption
2. The high rates of recycling/recovery - due to high price and the nature of its applications
3. The transient nature of speculative 'gold' demand
Regardless, the following presentation by Goldfields gives a good idea of how underfunded gold exploration has been, and how global gold resources have not been replaced.
Japan Foreclosed Guide Profiting from the Gold Boom Mining Fundamentals eBook
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