Wednesday, August 19, 2009

Q2 Gold Demand Falls

According to the recently released Q2
Gold Demand Trends from the World Gold Council 2nd quarter demand dropped 9% from Q2 08'. Jewelry consumption was down 22%; Industrial & Dental down %21; both offset by a surge in Investment of 46%. (these figures based on tonnage)

Supply(mined + recycled) on the other hand was up 14% over the same period while the London fix price was up 3%

Over the first half of 2009 net CBGA Central Bank sales were approx 100 tonnes while net, non-CBGA CB purchases were about 50 tonnes.

Strongest demand came from China and the U.S.