World Gold Council Releases 2013 Annual Report; Consumer Demand at Record Levels
The World Gold Council has released its annual report for 2013. Per the press release:
"Consumers around the world bought gold in record amounts in 2013, led by demand in China and India, with China becoming the world’s biggest gold market, according to the latest World Gold Council Gold Demand Trends report. In Western markets consumer demand also remained strong with the US, in particular, having a robust year in the jewellery, bar and coin sectors."
Gold demand and supply statistics for Full Year 2013
- -Gold demand for 2013 was 3,756t, 15% lower than for 2012.
- -Average price of gold for the year was US$1,411/oz, down 15% on 2012.
- -Global demand for jewellery was 2,209t for the year, up 17% on 2012.
- -Globally, there was record bar and coin demand for the year, which was up 28% on 2012, to 1,654t.
- -Demand in the technology sector was 405t, virtually unchanged from the 407t seen in 2012.
- -There was a net outflow from ETFs of 881t, as investors continued to reassess their portfolios.
- -Net central bank purchases totalled 369t, 32% down on 2012.
- -Total supply for the year was 4,340t, down 2% compared to 2012."
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