"However, tonnage demand for gold at 701 tonnes was down 16% on the same period last year and represents the lowest quarterly figure for five years, according to Gold Demand Trends, which is released today by World Gold Council (WGC). This fall was caused primarily by the sharp rise and unusually high volatility in the gold price, which briefly touched record levels above $1,000/oz in mid-March.
The data, compiled independently for WGC by GFMS Ltd, show that the impact of these factors hit home particularly hard in the “physical buying” markets of gold jewellery and coins and bars. Jewellery demand declined 21% year-on-year to 445.4 tonnes, the lowest quarterly level since the early 1990s. Net retail investment demand dropped by 35% to 72.7 tonnes in Q1."
Yes skol unfortunitly that was in may 2008,we all know what happened to the Gold price after that point on. Be patient skol we don't have to go up in a straight line because that may create a bubble , consolidation is good,you may have seen the bottom forming on charts for the next leg up right here on HC skol. Does the chart look like a bubble skol,have fun.
