RESEARCH AND ANALYSIS
Some key finding of the latest GMFS Gold Survey:
. Physical gold demand rose 2% year-on-year in Q4 2015,
driven by a strong pickup in net official sector purchases and a moderate
increase in retail investment.
. Retail purchases of gold bars and coins rose by 5%,
primarily due to a strong rebound in Chinese and Indian demand.
. Retail purchases in the rest of the world dropped 2%
year-on-year.
. Jewellery fabrication, the largest demand, posted a 2%
year-on-year drop, largely through disappointing demand in China.
. Total gold supply dropped by 7% in Q4 due in part to an
estimated 4% drop in global mine output.
. GFMS expects pent-up demand in Asia and a further
contraction in mine output to help a slow recovery in 2016 with the gold
price trading above US$1,200/oz towards year end and averaging US$1,164/oz.
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Gold Survey 2015: Q4 Update and Outlook
The Perth Mint is a major sponsor of the GMFS Gold Survey.