WGC says 2013 – “Year of the Consumer” for Gold

Posted | 19/02/2014 / Views | 1961
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The World Gold Council just released their report on 2013 which just ‘officially’ reinforces the unprecedented flow of gold from weak to strong hands.  To quote them "no review of 2013 would be complete without a mention of the unprecedented flow of gold from western vaults to eastern markets, via refiners in North America, Switzerland, and Dubai."….."These shifts resulted in the shipment and transformation – on an epic scale – of 400oz London Good Delivery bars into smaller denominations more suitable for consumers’ pockets."   They say ¾  of the 880 tonne outflow from ETF’s went to ‘consumers’.  Investment bars and coins hit an all time high at 1654t and jewellery demand the highest since 1997 at 3294t.