World Gold Council: 2013 was a record breaking year for bar and coin demand
Yesterday we posted the full-year 2013 gold demand numbers from the World Gold Council – they showed that worldwide gold bar and coin demand surged an incredible 28% last year.
Below is a summary video from the World Gold Council of those numbers.
Take aways include:
- It was the year of the consumer – and was a global phenomenon
- Demand continues its shift from West to East
- India bar and coin up 16% (government demand suppression not working then)
- Turkey bar and coin up 134%!
- Indonesia bar and coin up 36%
- China bar and coin up 38%
- US bar and coin up 26%
- Central banks continue to be net-buyers of gold
- Global investment in bars and coins rose 28%
- Supply was 4340 tonnes DOWN 2%
- Scrap was DOWN 14%
- Strong diverse demand and constrained supply will continue to drive long-term support for the metal
And in the face off all that record breaking demand, the price fell nearly 30% – quite amazing when you think about it, and hardly what you’d call a ‘normal’ bear market, characterised by people’s loss of faith in an asset.
As we mentioned yesterday, keep and eye on those gold ETFs in 2014 – should they start adding, and demand continues to be strong, the price will surely follow.
Link to this article: : http://www.goldmadesimplenews.com/gold/word-gold-council-2013-was-a-record-breaking-year-for-bar-and-coin-demand-12548/