The World Gold Council has released its Gold Demand Trends Q1 2014 report today, which is the leading industry resource for data and opinion on world-wide gold demand. Our quarterly publication examines demand trends by sector and geography. Key findings: · Gold demand had a robust start to 2014 – virtually unchanged year-on-year at 1,074 t (tonnes). · Total global jewellery demand was 571t in the first quarter, a rise of 3% compared to the same quarter last year, as consumers continued to be the dominant driver of the demand for gold · Total investment demand was 282 t, compared to 288t in the same quarter the previous year · Total investment demand was stable, at 282t, compared to 288t in the same quarter the previous year. Demand for bars and coins fell 39% from the previous year to 283t. Many investors had been expecting the gold price to decline in the quarter, so the rise in price generated some uncertainty over the outlook for gold as well as encouraging a degree of opportunistic profit taking · ETF outflows slowed to 0.2t, compared to outflows of 177t in the corresponding period last year. · The technology sector continued its steady decline, down 4% to 99t versus the same period last year. · Q1 2014 saw central bank net purchases again top 100 tonnes, at 122t for the quarter. This is the 13th consecutive quarter in which central banks have been net purchasers as they continue to diversify their assets. · Taken together, the figures demonstrate that the core fundamentals of the market remain in place following an exceptional 2013
SLR Price at posting:
38.5¢ Sentiment: LT Buy Disclosure: Held
