The World Gold Council has released the Q1 2012 Gold Demands Trend report.
Gold demand grew 16% over the past 12 months to
1,098 tonnes which had a value of just $59.7bn
spent on gold in the entire world in Q1 2012.
While global demand was down 5% from the record
high of Q4 2011, it was significantly higher than demand in Q1 2011
suggesting that demand may be consolidating at these higher levels.
Investment demand again dominated as under owned
gold continues to be diversified into and accumulated globally.
Gold investment demand (all demand for gold bars,
coins and ETFs and similar products) grew by 13% year-on-year to 389.3 tonnes in Q1 2012, equating to a demand value of just
The key drivers of this increase came from China
and ETFs. Global demand was boosted by China posting a quarterly record of
98.6 tonnes of investment demand up 13% from Q1
2011. This increase was a result of investors’ continued move to
preserve wealth amid ongoing concerns over inflation.
Probably the most important aspect of demand and
one of the most important fundamentals in the gold market is that of still
very robust and increasing Chinese demand.
The World Gold Council
report can be found on WGC's website here.