In the fourth quarter of 2012, total gold demand reached 1,195.9 tonnes, the highest fourth quarter total on record and the best quarterly haul behind the third quarter of 2011, according to the latest report from the World Gold Council. Total demand for the entire year slipped 4 percent to 4,405.5 tonnes, but with a value of $236.4 billion, it was an all-time record in dollar terms. In the bigger
Strong gold demand in jewellery and among central bank helped to offset weaker demand in
India and China, the two largest jewellery-consuming markets, accounted for 56 percent of total annual jewellery demand. Meanwhile, jewellery demand in Russia increased 7 percent to 81.9 tonnes. For the entire year, gold jewellery demand dipped 3 percent to 1,908.1 tonnes as consumers in India experienced higher import duties and local prices, but overall demand in dollar terms still set a record of $102.4 billion.
While some central banks print money in historic amounts, others are
Nations like
Annual demand for gold in the technology sector declined 5.5 percent to 428.2 tonnes in 2012, compared to 452.9 tonnes in the previous year. In dollar terms, demand increased slightly to a new record of $23 billion, compared to $22.9 billion. That is well above the five-year average of $15.5 billion.
Eric McWhinnie
Wall St. Cheat Sheet