Central banks and Chinese buyers helped spur gold demand in Q4 -WGC

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Feb 11, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    In its annual "Gold Demand Trends" report published on Thursday, the World Gold Council (WGC) noted that the global central banks and the Chinese buyers remained on a buying spree in Q4 2015 amid increased flight to safety and therefore, shored up the demand for the traditional safe-haven gold.

    Key findings from the report:

    China remained the world's biggest consumer of gold last year, ahead of India, with economic headwinds influencing purchasing

    Chinese demand for gold coins surged 25% in the fourth quarter from a year earlier

    Chinese demand for gold for jewellery fell 3% from a year earlier

    Overall demand for gold was virtually flat in 2015 at 4,212 tonnes

    Central banks purchases edged up to 588.4 tonnes last year, second only to a record high 625.5 tonnes in 2013

    Central bank buying accelerated sharply in the second half of last year and jumped 25% in Q4, from a year earlier

    Chinese demand for gold totaled 985 tonnes last year, followed by India on 849 tonnes. They accounted for nearly 45% of total global demand, with consumer demand up 2% and 1% respectively in those countries

    Indian jewellery demand reached its third highest level on record in 2015 at 654.3 tonnes.

    Global supply of gold fell 4% last year to 4,258 tonnes, partly because of slower mine production.
    For more information, read our latest forex news.

Share This Page

free forex signals