Global consumer demand for gold at unprecedented levels in 2013. China the world’s largest gold market in 2013
Gold demand of 3,756.1 tonnes in 2013 was worth US$170.4bn. Consumers generated exceptional levels of demand, with jewellery at its highest since the onset of the financial crisis in 2008 and investment in small bars and coins hitting a record high. This was in contrast to large-scale outflows from ETFs, due to a number tactical western investors liquidating their positions as US economic sentiment improved. Central banks made healthy purchases of 368.6 tonnes, the fourth consecutive year of positive demand. The net result was a 15% decline in overall gold demand from 2012.
World Gold Council appoints Sally Morrison as Managing Director, Jewellery
The World Gold Council, the market development organisation for the gold industry, has appointed Sally Morrison as Managing Director, Jewellery. Based in New York, Sally will be responsible for the organisation’s worldwide jewellery operations.
Gold continues its journey from West to East as buoyant consumer markets balance investment outflows
The latest World Gold Council Gold Demand Trends report, which covers the period July-September 2013, highlights the resilience of the global gold market in what is traditionally a slower quarter for gold demand. The continued growth in consumer demand across the globe and the strength of Asian gold demand overall, reinforces the patterns first seen at the beginning of 2013, clear evidence of the self-balancing nature of the global market.