World Gold Council Q1 report
News
|
Posted 21/05/2014
|
3591
WGC just released their Q1 2014 report showing demand held steady compared to Q1 of 2013 at 1,074.5 tonne. Jewellery demand saw the biggest quarterly jump in nearly 10 years, up 3% at 571 tonne, whilst investment demand was down 2% to 282 tonne. The breakup of investment demand saw ETFs at zero (compared to the massive outflows in the following quarters in 2013 that saw 900 tonne disgorged) but bars and coins fell 282.5 tonne. Central Banks bought 122 tonne, down a little on 2013 but within the normal range of the last few years. Chinese jewellery demand was up 10% and at 203 tonne is over a third of all world demand (keep in mind ‘jewellery’ and investment gold is essentially interchangeable in China as they like the ornate nature but buy for the investment). Total supply was up 1% to 1048.5 tonne and again less than demand.