World Gold Council expects high demand for the metal increased by 6%

Gold price technical analysis 17 - June, 2013

Expectations in the modern movement index price of gold in 2012, the World Gold Council expected to achieve the size of the global demand for gold increased by 6% during the third quarter of this year, compared to the same period of 2010 at 991.1 tonnes. The value of gold sold globally this year, set a new record reached 57.7 billion U.S. dollars, up to the highest value registered by him in the previous quarter, which amounted to 45.7 billion dollars, according to forecasts gold prices of 2012.

The average quarterly gold price by 39% from levels a year earlier, bringing the price of the ounce (an ounce) to U.S. $ 1702.12, while the price of gold reached a new record high of U.S. $ 1.895,00 in the fifth and sixth of September.

The total global investment demand by 468.1 tons since the start of the current quarter, an increase of 33% from its level in the same period of 2010 who scored a 352.1 tons.

The high prices to record the value of a record $ 25.6 billion U.S., representing about twice the value of U.S. $ 13.9 billion during the third quarter of 2010.

And increased demand for bullion and gold coins by 29% to 390.5 tonnes, according to forecasts gold prices 2012 compared with 303.0 in the third quarter of 2010. In value terms, the demand for bullion coins in the third quarter of 2012 reached U.S. $ 21.4 billion compared to U.S. $ 12.0 billion in the third quarter of 2010.

Has seen investment funds in gold negotiable and similar products flow reached 77.6 tonnes in the third quarter of 2012, beyond the levels of the previous year, which amounted to 49.1 tons by about 58%.

According to the forecast gold prices 2012, the decline in global demand for gold jewelry by 10% from its level in the same period of last year’s record 465.6 tonnes compared to 518.9 tonnes.

In value terms, demand has recorded record quarterly value of 25.5 billion U.S. dollars, up by about 24% for the third quarter of 2010 which recorded $ 20.5 billion.

In the forecast gold prices 2012, despite market conditions that pose a challenge, it demonstrated the demand for gold in the global technology sector, great flexibility and levels were stable compared to levels is in the same period of last year’s record 120.2 tons.

In value terms, record demand from the electronics sector reached a new record value of U.S. $ 4.8 billion. The net purchases of 148.4 tons, central banks where they continued to increase its share of gold reserves as a percentage of the total. The volume of the supply of gold in the third quarter of 2012, 1.034.4 tons, an increase of 2% on the levels of the previous year which recorded 1.013.0 tons and also according to expectations of prices 2012. The mine production increased by about 5% to 746.2 tonnes compared to 710.9 tons during the third quarter of 2010.

In the forecast gold prices 2012, despite record prices recorded during the quarter, the activity of recycling distinguish the relative moderation; has made the process of recycling gold over the third quarter of 2012, 426.5 tons of gold supply, an increase of 13% over the same period last year after it was 379.1 tons.

This, gold prices have declined in the last trading global markets on Friday, about 1.5% since the disappointing report on job growth in the United States in June raised fears of a recession, prompting investors to seek safe haven in the dollar and sell gold with other commodities and equities.

At the COMEX division of the New York Mercantile Exchange the price of gold for August settled at 1578.9 dollars per ounce, down 30.50 dollars.