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MTECHTIPS;-Global Gold bar, coin investments climb 78% in April-June 2013 y/y to 500 tons

MTECHTIPS;-Global Gold bar, coin investments climb 78% in April-June 2013 y/y to 500 tons

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MTECHTIPS;-Global Gold bar, coin investments climb 78% in April-June 2013 y/y to 500 tons

Gold bar and coin investment grew by 78% globally in April-June 2013 compared to the same quarter last year, topping 500t in a quarter for the first time, said the latest World Gold Council Gold Demand Trends report.In China, demand for gold bars and coins surged 157% compared with the same quarter last year, while in India it jumped 116% to a record 1st. Taking jewellery demand and bar and coin investment together, global consumer demand totaled 1,0th in the quarter, 53% higher than a year ago.For the tenth consecutive quarter, central banks were net buyers of gold, purchasing 71t, which reinforces the trend that began in Q1 2011.Demand in the technology sector was stable once again, totaling 104th, a rise of 1% on last year.Meanwhile gold held in gold-backed ETFs, which in 2012 accounted for just 6% of the world’s gold demand, fell by just over 400t, driven by hedge funds and other speculative investors continuing to exit their positions. This was predominantly in the US.Overall, demand for gold in Q2 2013 was 856t, down 12% on a year ago.On the supply side, recycling fell 21% in the quarter while mine production was 4% higher than a year ago, at 732t. In total, supply was 6% lower than a year ago.

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07489294118-119
MTECHTIPS;-Global Gold bar, coin investments climb 78% in April-June 2013 y/y to 500 tons

Gold bar and coin investment grew by 78% globally in April-June 2013 compared to the same quarter last year, topping 500t in a quarter for the first time, said the latest World Gold Council Gold Demand Trends report.In China, demand for gold bars and coins surged 157% compared with the same quarter last year, while in India it jumped 116% to a record 1st. Taking jewellery demand and bar and coin investment together, global consumer demand totaled 1,0th in the quarter, 53% higher than a year ago.For the tenth consecutive quarter, central banks were net buyers of gold, purchasing 71t, which reinforces the trend that began in Q1 2011.Demand in the technology sector was stable once again, totaling 104th, a rise of 1% on last year.Meanwhile gold held in gold-backed ETFs, which in 2012 accounted for just 6% of the world’s gold demand, fell by just over 400t, driven by hedge funds and other speculative investors continuing to exit their positions. This was predominantly in the US.Overall, demand for gold in Q2 2013 was 856t, down 12% on a year ago.On the supply side, recycling fell 21% in the quarter while mine production was 4% higher than a year ago, at 732t. In total, supply was 6% lower than a year ago.

WWW.MTECHTIPS.COM
07489294118-119

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Published by: MtechTips on Aug 16, 2013
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MTECHTIPS

Global Gold bar, coin investments climb 78% in April-June 2013 y/y to 500 tons

Gold bar and coin investment grew by 78% globally in April-June 2013 compared to the same quarter last year, topping 500t in a quarter for the first time, said the latest World Gold Council Gold Demand Trends

report. In China, demand for gold bars and coins surged 157% compared with the same quarter last year, while in India it jumped 116% to a record 1st. Taking jewellery demand and bar and coin investment together, global consumer demand totaled 1,0th in the quarter, 53% higher than a year ago. For the tenth consecutive quarter, central banks were net buyers of gold, purchasing 71t, which reinforces the trend that began in Q1 2011.Demand in the technology sector was stable once again, totaling 104th, a rise of 1% on last year. Meanwhile gold held in gold-backed ETFs, which in 2012 accounted for just 6% of the world’s gold demand, fell by just over 400t, driven by hedge funds and other speculative investors continuing to exit their positions. This was predominantly in the US. Overall, demand for gold in Q2 2013 was 856t, down 12% on a year ago. On the supply side, recycling fell 21% in the quarter while mine production was 4% higher than a year ago, at 732t. In total, supply was 6% lower than a year WWW.MTECHTIPS.COM 07489294118-119

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