World Gold Council: Q2 2013 gold demand
Earlier today we posted the numbers from the WGC on Q2 2013 gold demand – and for physical gold, demand is through the roof, jumping a MASSIVE 77% from a year earlier.
Here’s David Lamb, Managing Director Jewellery, talking through the findings from the Q2 2013 Gold Demand Trends report.
Take aways include:
- Continued strong consumer demand
- Bars, coins and jewellery demand surged ahead 54%
- Consumers in multiple markets saw the price drop as a buying opportunity
- The demand for Jewellery was the highest since 2007
- 50% of world demand coming from India and China
- US market also saw growth
- Coin demand jumps 92% – a record
- Bar demand jumps 75% – a record
- China total demand very strong – despite Q2 traditionally being quiet
- Reports in China of suppliers running out of stock
- Investor gold demand in China surges an incredible 157%
- India demand jumps 70% y/o/y
- Indian retail demand up 116%
A quite incredible report by the WGC that confirms all the anecdotal reports of massive buying out of China and India that we’ve been reporting on for months.
If there truly is a gold price suppression scheme in operation by the central banks of the world (we know there is for sure a gold demand suppression scheme going on in India right now) then it appears that it has spectacularly backfired – rather than put people off buying gold it has achieved the complete opposite, unprecedented demand for physical gold worldwide.
The flow of gold from West to East is happening at a record pace right now. Should this pace continue into Q3, and there are absolutely NO signs that it is about to let up any time soon, then watch out for some fireworks in terms of price in the Autumn months.
Link to this article: : http://www.goldmadesimplenews.com/interviews/world-gold-council-q2-2013-gold-demand-11430/