Q1 2013 demand for gold from the World Gold Council

Earlier we posted some data for Q1 2013 gold demand from the World Gold Council which showed that despite a RISE in PHYSICAL demand of some 8% for the year the price actually fell 5% – thanks entirely to selling in the paper gold market.

Here’s Marcus Grubb, Managing Director Investment at the World Gold Council talking about what the numbers mean.

Take aways include:

  • Gold demand down 13% (entirely driven by paper selling – see this)
  • Gold demand in India UP 27%
  • Indian investment demand up 52%
  • India still the biggest buyers of gold on the planet
  • Chinese demand UP 20%
  • Chinese investment demand UP 22%
  • Expecting Chinese demand to be very strong going forward
  • ETF demand fell by 177 tonnes
  • Bars and coin demand in the US rose 40%
  • Central bank buying remains strong
  • Overall supply of gold was flat
  • Since the April price drop on the COMEX the WGC has seen strong physical demand
  • April has also seen shortages and waiting lists from refiners

All-in-all an incredibly bullish report for gold and gold demand. However NONE of this has been reflected in the ‘paper’ price. When reality does emerge from its slumber in the ‘paper’ gold price we expect the reaction to be sharp and sudden to reflect this huge physical gold demand.

Read the full report from the World Gold Council here.

Link to this article: : http://www.goldmadesimplenews.com/interviews/q1-2013-demand-for-gold-from-the-world-gold-council-10738/

Posted by on May 16 2013. Filed under Interviews. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

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