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Demand for gold at unprecedented levels, China largest market

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Staff writer ▼ | February 19, 2014
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.
Gold
GoldConsumers 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 U.S., in particular, having a robust year in the jewellery, bar and coin sectors.

In 2013 the gold market saw 21% growth in demand from consumers which contrasted with outflows of 881t from ETFs. The net result was that global gold demand in 2013 was 15% lower than in 2012, with a full year total of 3,756t.

Annual global investment in bars and coins reached 1,654t, up from 1,289t in 2012, a rise of 28%, and the highest figure since the World Gold Council's data series began in 1992.

For the full year, Chinese and Indian investment in gold bars and coins was up 38% and 16%, respectively. Although much smaller markets in terms of volume, in the US, bar and coin demand was up 26% to 68t, and in Turkey it was up 113% to 102t, demonstrating solid support on a global basis.

Meanwhile demand for jewellery, the other component of consumer demand, increased by 29% from 519t to 669t in China, and by 11% from 552t to 613t in India, reaching 2,209t globally, the highest figure seen since the onset of the financial crisis in 2008.


 

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