World Gold Council

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Marcus Grubb, Managing Director, Investment, World Gold Council
Marcus Grubb, Managing Director, Investment, World Gold Council
Explore Where Global Gold Demand Is
Explore Where Global Gold Demand Is
Gold Demand Trends by Sector
Gold Demand Trends by Sector
2012 At a Glance
2012 At a Glance

2012 sees gold demand hit record value level. Q4 2012 up 4% year-on-year as India, China and central banks drive demand

London, February 14, 2013 /PRNewswire/ — In value terms, gold demand in 2012 was US$236.4bn – an all-time high. Gold demand in value terms for the final quarter of the year was 6% higher year-on-year at US$66.2bn, marking the highest ever Q4 total.

Global gold demand in Q4 2012 was 1,195.9 tonnes(t), up 4% on the same quarter in 2011. In Q4 2012, the average gold price reached a record level of US$1,721.8/oz, up 1% on the previous record average price in Q3 2011. The average price during 2012 was US$1,669.0/oz, up 6% from US$1,571.5/oz in 2011.

The key findings from the report are as follows:

Marcus Grubb, Managing Director, Investment at the World Gold Council said:

“China and India remain the world’s gold power houses, and by some distance, despite challenging domestic economic conditions. In India, consumer sentiment towards gold remained strong despite measures aimed at curbing demand, reaffirming gold’s role in Indian society. In an underdeveloped financial system in India, gold has an important role to play.

“Notwithstanding the predicted economic slowdown in China, investment demand was up 24% in Q4 on the previous quarter and jewellery consumption held steady at 137.0t.

“Central banks’ move from net sellers of gold, to net buyers that we have seen in recent years, has continued apace.  The official sector purchases across the world are now at their highest level for almost half a century.

“Despite the turbulent macroeconomic climate throughout the year, as well as the regional uncertainties affecting India and China, the two largest gold markets, annual demand was 30% higher than the average for the past decade.”

Gold demand and supply statistics for Q4 and full year 2012:

The Q4 and full year 2012 Gold Demand Trends report, which includes comprehensive data provided by Thomson Reuters GFMS, can be viewed at: www.gold.org/media and on our new iPad app which can be downloaded from www.itunes.com and a video can be seen here.

ENDS

For further information please contact:

James Murray
World Gold Council
T +44 20 7826 4754
E james.murray@gold.org

Giles Abbott
Capital MSL
+44 20 7307 5340
giles.abbott@capitalmsl.com

Note to editors:

World Gold Council
The World Gold Council is the market development organisation for the gold industry. Working within the investment, jewellery and technology sectors, as well as engaging in government affairs, our purpose is to provide industry leadership, whilst stimulating and sustaining demand for gold.

We develop gold-backed solutions, services and markets, based on true market insight. As a result, we create structural shifts in demand for gold across key market sectors.

We provide insights into the international gold markets, helping people to better understand the wealth preservation qualities of gold and its role in meeting the social and environmental needs of society.

Based in the UK, with operations in India, the Far East, Europe and the US, the World Gold Council is an association whose members include the world’s leading and most forward thinking gold mining companies.