WGC - Increases 56 % the demand of investment in Gold
20-11-2008 golden marketInformation of the World Council of Gold showed a rise of 18 % of the golden demand to 1.334,4 tons and an increase of 56 % of the demand of investment to 382,1 tons in the third trimester of 2008, improving the confidence in the gold. The demand of investment in gold increased in the third trimester 56 %, to 382,1 tons, because the biggest level of economic suspense and financial crisis incited to the buy of sure refuge, added the WGC in his four-monthly report on the tendencies of the golden demand.
“There exists between the investors of the world an increasing conscience of the strategic benefit of long term that contributes the gold to a portfolio of well balanced investment”, said George Milling-Stanley, manager of investment of the WGC.
The worries about the inflation and a fall of the price of the gold during the third trimester have unleashed a strong buy of coins and bars of physical gold, what he led to a scarcity between the operators of the gold in many parts of the world, indicated the WGC.
“Many people think that these different rescue plans possess important inflationary implications for the big economies of the world, particularly the United States but also of Europe”, affirmed Milling-Stanley.
In the third trimester, the bars provisions climbed 69 %, to 110.9 tons, from 59.6 previous tons, while the official coins buy also grew 60 %, to 61.2 tons, from 38.2 tons, said the WGC.
The report, which information was compiled by the signature of investigation GFMS for the WGC, which is sponsored by the industry, showed that the demand of golden funds negotiated in Stock Exchange increased in the trimester 8 %, to 150 tons.
The entire jewels consumption jumped in the third trimester interannually 8 %, to 647.6 tons, thanks to the fall of the price of the gold and the much major consumption of India, the principal buyer of the precious metal, said the WGC.
The entire demand of India grew in the same trimester 31 %, to 249.5 tons, helped by the increases so much in the jewels buy as in of retail investors, pointed out the WGC.
Nevertheless, the industrial demand of the third trimester fell down 11 %, to 103.7 tons, for the minor buy of the sector of the electronics.
As for the fourth trimester, the WGC supported that the strong demand of jewels, bars and coins of gold and of ETF that was clear in the third trimester was continuing at the beginning of the current trimester.
20-11-2008
