Chart usGOLD   Chart usSILVER  
 
Food for thought
The only thing necessary for the triumph of evil is for good men to do nothing.
Edmund Burke  
Search for :
LATEST NEWS  :
MINING STOCKS  :
Subscribe
Write Us
Add to Google
Search on Ebay :
PRECIOUS METALS (US $)
Gold 1294.35-0.31
Silver 19.620.00
Platinum 1408.00-1.00
Palladium 794.000.00
WORLD MARKETS
DOWJONES 16409-16
NASDAQ 40969
NIKKEI 144180
ASX 544532
CAC 40 443226
DAX 941092
HUI 220-2
XAU 90-1
CURRENCIES (€)
AUS $ 1.4809
CAN $ 1.5202
US $ 1.3813
GBP (£) 0.8225
Sw Fr 1.2196
YEN 141.4400
CURRENCIES ($)
AUS $ 1.0723
CAN $ 1.1007
Euro 0.7239
GBP (£) 0.5956
Sw Fr 0.8828
YEN 102.3700
RATIOS & INDEXES
Gold / Silver65.97
Gold / Oil12.38
Dowjones / Gold12.68
COMMODITIES
Copper 3.050.02
WTI Oil 104.540.78
Nat. Gas 4.740.21
Market Indices
Metal Prices
RSS
Precious Metals
Graph Generator
Statistics by Country
Statistics by Metals
Advertise on 24hGold
Projects on Google Earth
Key Points from the WGC’s Gold Demand Trends
Published : February 15th, 2013
383 words - Reading time : 0 - 1 minutes
( 1 vote, 5/5 ) Print article
 
    Comments    
Tweet

From the press release that accompanied today’s release of the World Gold Council’s Gold Demand Trends for 2012 come the following highlights about gold demand in the fourth quarter and for all of 2012:

24hGold - Key Points from the ...

Whilst Indian full year demand was down 12% on the previous year, the market performed strongly in the final quarter with total demand at 261.9t, an increase of 41% on the same period last year.  Both jewellery and investment demand reached their highest levels for six quarters. Demand for jewellery was up 35% year-on-year to reach 153.0t, and strong retail demand led to 108.9t of investment buying.  In India the prospect of duty increases, which came in to force in January 2013, may have added to strong buying in the final quarter to beat the anticipated price rises.

Chinese demand was flat year-on–year, reflecting the impact of economic slowdown. However looking at Q4, total demand was up 1% on the previous quarter to 202.5t. Jewellery demand was137.0t up 1% on Q4 2011 and investment demand was 65.5t, up 2% on the previous year. These increases may reflect the fact that the economic slowdown in China appears to have been shorter than expected.

Central bank buying for the full year rose by 17% compared to 2011, totalling 534.6t, the highest level since 1964. Central bank purchases stood at 145.0t in Q4, up 29% on the corresponding quarter in the previous year, making this the eighth consecutive quarter in which central banks have been net purchasers of gold.

Global investment in ETFs in 2012 was up significantly by 51% on the preceding year, though Q4 was down 16% to 88.1t when compared with the high levels recorded in Q3 2012.

On a related note, the World Gold Council has teamed up with UC Berkeley to offer a course for executives in central banks and finance ministries dubbed the Executive Programme in Gold Reserves Management.

It’s kind of odd that they’d do this at UC Berkeley (see here for the course description), where, it’s my understanding the view of the economics department is that the yellow metal really is a “barbarous relic”, despite all the central bank buying in recent years. Of course, Barry Eichengreen, author of Golden Fetters, is on the faculty there which makes  the location all the more curious.


 

 

Data and Statistics for these countries : China | India | All
Gold and Silver Prices for these countries : China | India | All
Tweet
Rate :Average note :5 (1 vote)View Top rated
Previous article by
Tim Iacono
All articles by
Tim Iacono
Next article by
Tim Iacono
Receive by mail the latest articles by this author  
Latest comment posted for this article
Be the first to comment
Add your comment
TOP ARTICLES
MOST READ
TOP RATED
MOST COMMENTED
Editor's picks
RSS feed24hGold Mobile
Gold Data CenterGold & Silver Converter
Gold coins on eBaySilver coins on eBay
Technical AnalysisFundamental Analysis

Tim Iacono

Tim Iacono is the founder of Iacono Research, a subscription service providing market commentary and investment advisory services specializing in commodity based investing.
Tim Iacono ArchiveWebsiteSubscribe to his services
Most recent articles by Tim Iacono
4/17/2014
4/17/2014
4/17/2014
4/16/2014
4/16/2014
All Articles
Comment this article
You must be logged in to comment an article8000 characters max.
 
Sign in
User : Password : Login
Sign In Forgot password?
 
Receive 24hGold's Daily Market Briefing in your inbox. Go here to subscribe or unsubscribe.
Disclaimer