WGC: World Gold Report for the second quarter of 2011

WGC: World Gold Report for the second quarter of 2011

Demand for gold in the second quarter of 2011 turned out to be 17% lower than the previous year, but we are not talking so much about weak indicators this year, but about a strong base of the past, especially in investments, experts from the World Gold Council say. .

There have been no significant changes in trends compared to the previous quarter: as before, the main increase in demand comes from China, central banks remain net buyers of gold and recycling remains at high levels. The extraction of gold from the bowels is gradually growing.

Quarterly average prices were 26% higher than in the second quarter of 2010 and 9% higher than in the first quarter of 2011. High prices reduce the demand for gold jewelry and force consumers to choose alloys with a metal content precious lower. However, demand in this segment was 6% higher than a year ago due to China, India and Turkey, even with a decrease in demand in other regions.

Vietnam has seen an unexpected increase in demand for “investment” jewelry amid rumors of a possible ban on the production and sale of gold bars. In particular, pure gold rings that are not bought both to wear and to store, that is, in fact, for investment purposes, have become fashionable again.

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