As expected, there was strong gold consumption associated with the Chinese New Year celebrations. But will the Year of the Dragon be one of sustained strong demand from China?
Did you have your eyes peeled on the gold market all year? If not, we're bringing you up to speed with the 2011 gold trends.
Recent research by New Frontier Advisors, commissioned by the World Gold Council, offers statistical analysis regarding the diversification value of gold exposure to an investment portfolio of a Euro denominated investor.
Financial Post reported that the World Gold Council said third quarter gold demand increased by 6%.
Gold investment is becoming more accepted as a substitute for currency by industry observers, particularly in light of the context of all four major currencies experiencing structural debasement.
Even as spot market gold prices have traded at historical highs over the past few months, central banks are increasing positions and demonstrating support for the precious metal.
IBTimes reported that the World Gold Council sees increasing demand for India Gold ETFs.
Bloomberg reported that the World Gold Council sees Chinese gold investment reaching record highs.
Reuters reported that the World Gold Council sees gold demand increasing by the end of this year.
The price of gold and forecasting any future target price has invariably been the subject of numerous confidential discussions among central bankers; however, if the level of interest in the price of gold is any indication of what is to happen in the future, perhaps it would be a worthwhile observation to follow the trend of the “smart money”.
Wednesday, February 1, 2012