Starting with the 1/1/2010 data, I adjusted the estimated gold supply to reflect mining output for 2009 based on data from the Gold Council. This affects the M2/oz chart but does not affect the M2/price chart.
Charts do not start at zero to better show changes.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhWeixAktmbMwqOpIH0bAHlO7oWQWh7sVeYvjdaMqkJYkdb4QAR7z163NhImHIW_5tKBSxeRlRBIrbh6k7GGSQSXNCb523pWzjACP9vgi9k4FXZMc0nnCDYaWRSEF1TCLIwwFdoZVC7yd0/s320/m2_oz_(monthly)(4).png)
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjktqbyWkoy16_MmmEG-wANo50jV47SWhXOF1zdmu-R7RNc73j11TqE7LTr_eoCckFNxNqoHoil42zP-b2JDodSJfTu5cfeCiqLSMuPE8HyYm-jtZSapyq84TfdTkpnY0uujNrIrVqYZkY/s320/m2_gold_price(4).png)