May 17 / WAM / said the World Gold Council today that the size of the global demand for gold reached in the first quarter of 2012/6 097.1 / tonne, a decline by 5 percent compared with in high levels in the first quarter of 2011 where he achieved / 7.150 1 / tonnes.
He said the center in a report released today on trends in the demand for gold that this decline had been expected result of subtracting taxes on resources imported and high prices of gold .. and although it achieved a value of the demand for gold increased by 16 percent from last year reached 7.59 billion U.S. dollars The average selling price of gold during the first quarter of the year / 7.690 1 / USD, an increase of 22 percent from the average recorded to the same period last year.
Has reinforced the growing demand in China’s demand for gold as he continued central bank purchases, as well as the current flows, Exchange Traded Funds.
In a review of the report explained that the rate of investment application and the jewelry industry in China rose by 10 percent from the levels recorded last year to reach 2.225 tons .. has made the investment application strong growth, recording 6.98 tonnes increase of more than 13 percent for the first quarter of 2011 demonstrating the need for investors Permanent retention of wealth amid current concerns of inflation.
Also increased the demand for jewelry in China, a significant increase of up to 6.156 tons, equivalent to 30 percent of the total global demand for gold and putting China at the forefront of major jewelry markets for the third quarter in a row.
Have been affected by the demand for gold in India in the first quarter of 2012, several factors are in the new tax imposed on gold and being applied to fees and gold imports and the weak rupee and volatile prices .. The decline in demand for gold jewelry by 19 percent for the first quarter of the year last registered 0.152 tons, which led the government to withdraw the new tax imposed on gold, which was reflected in the positive reaction of the market which has already begun to recover.
The report noted that central banks around the world continued to work to go and achieve the adopted net buyers of gold resulted in an average demand in the first quarter of 2011 to reach 8.80 tonnes.
Eastern Europe and led by adding to the demand of both Russia and Kazakhstan of reserves of gold and had a large share in the amount of basic purchases.
The Mexican Central Bank has the largest share of purchases by individual 8.16 tons .. The motivation behind this demand from central banks in these emerging markets in the need to diversify their reserves.
The total request for funds in circulation and bank-like products in the first quarter of this year, 4.51 tons, equivalent to 8.2 billion U.S. dollars in what is an absolute contradiction with the results achieved in the same period of 2011, where the sector has seen net cash flows.
Marx said Try, managing director of the investment sector in the World Gold Council, both China and India have witnessed economic growth continued while he waits to start the Chinese economy to slow but that, although it will exceed the growth rates in the west .. and expressed his expectation that China will become the largest sources of demand forgold in 2012.
And extends the story of this growth to reach the market economies of other emerging and reinforced by the continuation of central banks in the demand for gold as a reserve diverse and protective of the wealth of national .. and Ttapin the current image of the gold market can not meet the escape of the U.S. dollar and other forms of wealth like expressing Aatqah that the root causes of investing in gold today is still very strong and imposes itself on the scene.