– Gold coins, bars see demand rise of 11% in H2, 2017 to 532 tonnes according to WGC Gold Demand Trends
– Gold investment demand strong in China, India & Turkey
– Demand in Turkey surges on double digit inflation
– Total gold demand declines in Q2 on slower U.S. ETF inflows
– Gold held in ETFs in Europe reached all time high of 978t
– U.S. ETF inflows slowed from last year’s record
– Central banks continue to buy – 94t of declared purchases
– Turkey joined Kazakhstan & Russia in buying gold
– Well balanced market: ETF inflows continue and jewellery, technology and bar & coin demand up
– Important to note this is all official, transparent and recorded demand. There is demand and flows of gold that cannot be and are not recorded – especially into the Middle East, India, Russia and of course China
Key findings included in the Gold Demand Trends Q2 2017 report are as follows:
- Overall demand was 953t, a fall of 10% compared with 1,056t in Q2 2016
- Total consumer demand rose by 9% to 722t, from 660t in the same period last year
- Total investment demand (ETFs) fell 34% to 297t compared with 450t in Q2 2016
- Gold coins and bars rebounded 13% in H1
- Global jewellery demand grew 8% to 481t, from 447t in the same period last year
- Central bank demand climbed 20% to 94t compared with 78t in Q2 2016
- Demand in the technology sector increased 2% to 81t compared with 80t in Q2 2016
- Total supply was down 8% to 1,066t, from 1,160t in the same period last year
- Recycling fell 18% to 280t compared with 343t in Q2 2016
The Gold Demand Trends Q2 2017 report, which includes comprehensive data provided by Metals Focus, can be viewed at .
News and Commentary
Source: Palisade via GoldCore
Gold Prices (LBMA AM)
03 Aug: USD 1,261.80, GBP 952.41 & EUR 1,064.96 per ounce
02 Aug: USD 1,266.65, GBP 956.83 & EUR 1,069.56 per ounce
01 Aug: USD 1,267.05, GBP 957.76 & EUR 1,072.30 per ounce
31 Jul: USD 1,266.35, GBP 965.59 & EUR 1,079.06 per ounce
28 Jul: USD 1,259.60, GBP 961.96 & EUR 1,075.45 per ounce
27 Jul: USD 1,262.05, GBP 960.29 & EUR 1,076.53 per ounce
26 Jul: USD 1,245.40, GBP 956.72 & EUR 1,071.29 per ounce
Silver Prices (LBMA)
03 Aug: USD 16.47, GBP 12.50 & EUR 13.91 per ounce
02 Aug: USD 16.67, GBP 12.60 & EUR 14.09 per ounce
01 Aug: USD 16.74, GBP 12.67 & EUR 14.17 per ounce
31 Jul: USD 16.76, GBP 12.77 & EUR 14.29 per ounce
28 Jul: USD 16.56, GBP 12.66 & EUR 14.15 per ounce
27 Jul: USD 16.79, GBP 12.77 & EUR 14.34 per ounce
26 Jul: USD 16.37, GBP 12.54 & EUR 14.06 per ounce
