Gold coins, bars see demand rise of 11% in H2, 2017 to 532 tonnes according to WGC Gold Demand Trends
Gold investment demand strong inChina, India & Turkey
Demand in Turkey surges on double digit inflation
Totalgold demand declines in Q2 on slower U.S. ETF inflows
Gold held in ETFs in Europe reached all time high of 978t
U.S. ETF inflows slowed from last year’s record
Central banks continue to buy 94t of declared purchases
Turkey joined Kazakhstan & Russia in buying gold
Well balanced market: ETF inflows continue and jewellery, technology and bar & coin demand up
Important to note this is all official, transparent and recorded demand. There isdemand and flows of gold that cannot be and are not recorded especially into the Middle East, India, Russia and of course China
Key findingsincluded in theGold Demand Trends Q2 2017report are as follows:
- Overall demandwas 953t, a fall of 10% compared with 1,056t in Q2 2016
- Total consumer demandrose by 9% to 722t, from 660t in the same period last year
- Total investment demand (ETFs)fell 34% to 297t compared with 450t in Q2 2016
- Gold coins and barsrebounded13% in H1
- Global jewellery demandgrew 8% to 481t, from 447t in the same period last year
- Central bank demandclimbed 20% to 94t compared with 78t in Q2 2016
- Demand in the technology sectorincreased 2% to 81t compared with 80t in Q2 2016
- Total supplywas down 8% to 1,066t, from 1,160t in the same period last year
- Recyclingfell 18% to 280t compared with 343t in Q2 2016
TheGold Demand Trends Q2 2017report, which includes comprehensive data provided by Metals Focus, can be viewed atGold Demand Trends.
News andCommentary
Dow has its first close above 22,000 (Yahoo.com)
Trump Signs Russia Sanctions Bill, But Lays Out His Concerns About the Law (Bloomberg.com)
Man claims to have found first silver piece minted by the U.S. (CTVNews.ca)
Source: Palisade via GoldCore
Turks Panic-Buy The Most Gold Ever In July (ZeroHedge.com)
What Is It About 1906ET That Spooks Precious Metals ‘Traders’? (ZeroHedge.com)
Dollar And Equities Will Plunge Together While Gold Spikes (DollarCollapse.com)
Wont Be Long Now Amazon and the New Tech Crash (DailyReckoning.com)
Crypto-currencies are mirroring pre-crash banking systems Kaminska (FT.com)
Gold Prices (LBMA AM)
03 Aug: USD 1,261.80, GBP 952.41 & EUR 1,064.96 per ounce
02 Aug: USD 1,266.65, GBP 956.83 & EUR 1,06