Le 5 octobre 2015, 17:27 dans Humeurs • 0
Another Step Towards Reserve Currency Status In the World Gold Council latest quarterly report (pdf) on demand trends, some interesting statistics were revealed which generally show a maturing in the gold market, especially in the geographical spread of demand and mine supply. We learn that third quarter gold demand increased a healthy 6% yearonyear to just over a thousand tonnes. A strong rise in investment demand was the main driver of overall demand and jewelry demand declined.
DEMAND Click to enlarge This investment demand has helped gold outperform most other assets over the near term, delivering gains of 8% over the quarter and 15% over the yeartodate. What caught our attention was the nature of this investment demand, in comparison to previous gold market activity. The WGC reports that:
The increase in investment demand during the third quarter was notable for its widespread geographical distribution. Virtually all markets saw strong doubledigit growth in demand for gold bars and coins, with only three countries, India, Japan, and the US, experiencing a year on years contraction. These growth rates are all the more remarkable when considering the substantial bout of profittaking which http://www.valentinorockstudsale.com/ accomplished the price correction in September.
It is encouraging to see that the investment demand base for gold is now well geographically diversified. Some analysts talk of differing business cycles Valentino Shoes unfolding in different geographies. As the far right column in the graph above shows, gold investment demand has a healthierlooking geographical spread compared to that found during the top of the last gold market in 1980 (second column in from the left), where the market was predominantly driven by North America and Europe. The WGC find this geographical demand can be differentiated in motives and goals, commenting:
Western investors were attracted to gold insurancelike properties, given the worrying developments in the euro area. Meanwhile, investors in the Eastern markets focused on positive price expectations for gold as well as its inflationhedging properties.volatility may Valentino Rockstud Shoes be being sated. Today no single country provides more than 14% of global mine supply, and China is now the world largest producer (13%), followed by Australia (10%), the USA (9%), and Russia and South Africa (8% each). As the WGC comments: