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World Gold Council celebrates the obvious about gold demand
The world discerns easily enough where gold demand comes from. Why doesn't the World Gold Council ever attempt a report on gold supply trends? After all, that would require putting only a few more questions to certain governments and central banks.
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Central Banks and Chinese Buyers Helping to Spur Gold Demand, World Gold Council Says
By Susan Fenton
Thursday, February 11, 2015
LONDON -- Buying by central banks as well as Chinese investors seeking protection from a weakening currency helped lift demand for gold in the final quarter of last year and the trend looks set to continue, the World Gold Council said today.
China remained the world's biggest consumer of gold last year, ahead of India, with economic headwinds influencing purchasing, the WGC said in its annual "Gold Demand Trends" report. The WGC's members include the world's leading gold mining companies.
Chinese demand for gold coins surged 25 percent in the fourth quarter from a year earlier as consumers sought to protect their wealth after Beijing devalued the yuan currency. But stock market turmoil and a slowing economy knocked consumer sentiment and Chinese demand for gold for jewellery fell 3 percent from a year earlier, the WGC said. ...
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