The World Gold Council released their latest report on gold supply and demand through the fourth quarter of 2012. Total demand, in tonnes, declined year-over-year on the back of lower turnover from jewellery, bars & coins, and ETF's. This was only partially offset by an increase in demand from global central banks. Central banks purchased 534.6t of gold in 2012, the greatest gold purchase volume by Central Banks since 1964. Most of the purchasing appears to be concentrated in emerging market nations. In my mind, global central banks are ramping up gold purchases to protect themselves from the volatility in currency markets, the later a direct result of QE efforts.
The report can be found below and here at the World Gold Council Site.
The report can be found below and here at the World Gold Council Site.
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