"Spot gold has consolidated gains above the 200 day moving average at
$1,640/oz. Gold has climbed 1.5% to a one month high, due to concerns about the
Eurozone sovereign debt crisis. Risk appetite has returned lifting markets
across the board, after China announced better than expected economic growth in
the last quarter of 2011.
Thomson Reuters GFMS annual gold survey released today shows that global investment increased 20% last year to $80 billion, leading to the nominal high last September of $1,920/oz. This is primarily attributed to the physical buying of bullion.
Gold may climb to a new nominal record above $2,000/oz by early next year as concern about currencies and low interest rates encourage investors to seek a protection of wealth, Thomson Reuters GFMS said.
Gold Spot $/oz - Daily 1/17/11-1/17/12
- Bloomberg
Gold coin purchases gained 13% last year and will increase 2.7% in the first half.
Purchases of gold bars increased by 36% to nearly 2,000 (1,194) metric tonnes, concentrated in China, Germany, Switzerland and Austria.
East Asia demand for gold bars rose 53% to 456 metric tonnes.
India rose 9% to 297 metric tonnes and western markets demand for gold bars rose 41% to 335 metric tonnes.
Central banks increased net purchases by a massive fivefold to 430 tons last year, and may buy another 190 tons in the first half, GFMS said.
Combined official holdings stand at 30,788.9 tons, data from the London-based World Gold Council show.
“Attitudes among central banks haven’t really changed,” Thomson Reuters GFMS annual survey said. “There’s still that desire to come into the gold market to diversify some of the assets away from foreign exchange and to boost gold holdings.”
at http://www.zerohedge.com/news/global-gold-coin-bar-demand-surges-2011-thomson-reuters-gfms-annual-gold-survey
Thomson Reuters GFMS annual gold survey released today shows that global investment increased 20% last year to $80 billion, leading to the nominal high last September of $1,920/oz. This is primarily attributed to the physical buying of bullion.
Gold may climb to a new nominal record above $2,000/oz by early next year as concern about currencies and low interest rates encourage investors to seek a protection of wealth, Thomson Reuters GFMS said.
Gold Spot $/oz - Daily 1/17/11-1/17/12
- BloombergGold coin purchases gained 13% last year and will increase 2.7% in the first half.
Purchases of gold bars increased by 36% to nearly 2,000 (1,194) metric tonnes, concentrated in China, Germany, Switzerland and Austria.
East Asia demand for gold bars rose 53% to 456 metric tonnes.
India rose 9% to 297 metric tonnes and western markets demand for gold bars rose 41% to 335 metric tonnes.
Central banks increased net purchases by a massive fivefold to 430 tons last year, and may buy another 190 tons in the first half, GFMS said.
Combined official holdings stand at 30,788.9 tons, data from the London-based World Gold Council show.
“Attitudes among central banks haven’t really changed,” Thomson Reuters GFMS annual survey said. “There’s still that desire to come into the gold market to diversify some of the assets away from foreign exchange and to boost gold holdings.”
at http://www.zerohedge.com/news/global-gold-coin-bar-demand-surges-2011-thomson-reuters-gfms-annual-gold-survey
