Gold and Silver News

Discrepancy in gold demand

09/05/2013 17:07

Something very interesting is happening in the bullion markets currently. There is a discrepancy between the demand for “paper” gold versus the demand for physical gold. Over the course of the last few months gold has consistently moved lower. The price action has been weak, and finally we saw a break through technical support in the $1550 area. The move down to the $1350’s was quick and happened in just a couple of days. A $200 drop is by no means ordinary.
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According to the WGC, this decline was "largely a reflection of the strength of demand in 3Q 2011, a period of exceptional investment inflows."

Weaker Chinese demand was also a factor in lower gold demand in the third quarter, it said.


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WGC - Gold demand fell to its lowest level in more than two years in the second quarter, the World Gold Council said on Thursday, as a drop in buying in major consumers India and China outweighed a record quarter for central bank purchases.
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