Surging Gold Bullion Demand as Wealth Heads East

The big news out this week comes from the World Gold Council’s 2nd quarter Gold Demand Trends newsletter, which revealed that demand for physical gold increased more than 50% over 2012. Global gold jewelry demand rose 37%, a five-year high.

Read the Full Gold Demand Trends Here

The majority of the surging demand is attributed to unrelenting precious metals consumption in Asia, particularly China and India. Pair that with the news today that China, Japan, and other countries continue to sell huge amounts of US debt, and it looks pretty clear that real wealth is migrating East. An article in The Telegraph explains:

“Stocks of physical gold crossed continents in the first half of 2013 as Westerners dumped their holdings and, on the other side of the world, the resulting fall in price sent consumers flocking to jewellers and bullion dealers.

Indian, Chinese, Thai and other Asian consumers flocked to jewellers and bullion dealers to build their holdings.

The trend, disclosed in the latest data from the World Gold Council, a trade organisation established by the gold mining industry, highlights the different ways in which gold is viewed and owned around the globe.”

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