World Gold Council Gold Demand Trends Report was released by the World Gold Council on 20 May 2014. The Report covers the period from January 2014 – March 2014 (or Quarter 1). According to the Report the demand for gold has returned to the long-term quarterly average demand trends established over the past 5 years.
The Highlights of the Report
• The demand in Quarter 1 of the year 2014 was 1074 tonnes, which remained unchanged as compared to the same period recorded in 2013.
• The overall demand of gold rose by 3 percent in Quarter 1 of 2014 as compared to the Quarter 1 of 2013.
• Overall investment in gold has dipped slightly to 282 tonnes in Quarter 1 of 2014 as compared to 288 tonnes in Quarter 1 of 2013.
• The demand of coins and bars of gold went down by 39 percent as compared to 2013.
Report with respect to India
There is a noticeable depreciation in demand of coins and bars in India as it dropped by 54 percent to 45 tonnes. It means that the Gold demand in Indian declined by 26 percent. Factors that caused a decrease in India were duty and restrictions on gold imports which was coupled with restrictions on free movement of cash and other assets.
World Gold Council
The World Gold Council is a market development organisation for gold industry. The organisation through its measures intervene the society to create new possibilities.
As the global authority on gold, it offers comprehensive analysis of the industry and give unparalleled information and insight to the decision makers into the drivers of gold demand.
Managing Director Investment Strategy at World Gold Council: Marcus Grubb
When: 20 May 2014