Today >>

Gold Demand Trends in 2011

Gold demand trends in 2011,demand for gold in year 2011 record by the World Gold Council's Gold Demand Trends (GDT). The World Gold Council's is the leading industry resource for data and opinion on world-wide gold demand. Their quarterly publication examines demand trends by sector and geography .Demand for gold reached a 10-year high with spending reaching a value of $150bn (£93bn) in 2011, as Chinese and Indian consumers increased jewellery purchases and the world's central banks became net buyers for the first time in more than two decades.

Global gold demand in the first quarter of 2011 totaled 981.3 tonnes, up 11% year-on-year from 881.0 tonnes in the first quarter of 2010. In value terms, this translated to US$43.7bn, compared with US$31.4bn in the first quarter of 2010, an increase of almost 40%. This was largely attributable to a widespread rise in demand for bars and coins, supported by an improvement in jewellery demand in key markets.

The World Gold Council showed demand for jewellery grew 17% over the 12-month period, while overall demand for gold was up 9% despite record prices for the precious metal.

Today the value of gold rose for the fourth day in a row to hit $1,378 an ounce and we think price grow up for future, as investors piled into the commodity as a safe haven amid increased political instability in the Middle East.

Chinese jewellery demand last year reached a record figure of 428 tonnes while Indian jewellery needs were raised by just under 70% after a dip in the market during 2009 caused by recession.