Post by fireopal on Nov 16, 2013 1:17:31 GMT 4
The World Gold Council released its Gold Demand Trends 2013 Report which demonstrates quite clearly that the Chinese continue to accumulate gold; gold continues to flow east to both government and consumer channels. The report also showed that central banks continue to accumulate and there is positive news that jewellery trade is up.
Key findings:
Continued consumer growth in China.
Total consumer demand was 210t in Q3 2013, a rise of 18% compared to the same period last year.
Central banks continue to be strong buyers of gold, albeit at a slower rate.
Q3 2013 was the 11th consecutive quarter of net purchases of gold.
Jewellery consumption in South East Asia, outside China, was also strong.
Hong Kong was up 28%, Vietnam up 14%, Thailand up 57% and Indonesia up 19% on the same quarter last year albeit off low bases.
Government regulations in India are dampening demand figures.
India recorded a 32% decline in consumer demand compared to the same quarter last year. However year to date, demand remains robust, up 19% compared to the first three quarters of 2012, following the surge in demand sparked by two price falls earlier in 2013.
Key findings:
Continued consumer growth in China.
Total consumer demand was 210t in Q3 2013, a rise of 18% compared to the same period last year.
Central banks continue to be strong buyers of gold, albeit at a slower rate.
Q3 2013 was the 11th consecutive quarter of net purchases of gold.
Jewellery consumption in South East Asia, outside China, was also strong.
Hong Kong was up 28%, Vietnam up 14%, Thailand up 57% and Indonesia up 19% on the same quarter last year albeit off low bases.
Government regulations in India are dampening demand figures.
India recorded a 32% decline in consumer demand compared to the same quarter last year. However year to date, demand remains robust, up 19% compared to the first three quarters of 2012, following the surge in demand sparked by two price falls earlier in 2013.