Date And Time:

Our Performance Of Feb 2018



Today's Message

TRIAL

SEND SMS FOR TRIAL

EQUITY - COMMODITY OR BOTH

TO

 09920033678

www.GoldSilverAlert.com

Wednesday, February 23, 2011

Gold in 2010

This week, the World Gold Council (WGC) confirmed something we’d already suspected: 2010 was a remarkable year for gold. Overall demand grew by 9 percent to reach a 10-year high on increased jewelry demand, strong momentum in key Asian markets and a paradigm shift in the official sector, the WGC says.

Demand for jewelry was the biggest contributor to gold demand, accounting for 54 percent of the total. That’s a 17 percent rise despite gold prices jumping 26 percent in many currencies. Gold demand for technology increased 12 percent. Surprisingly, investment demand declined 2 percent as investment in gold ETFs dropped 45 percent. Even with the drop, 2010 was the second-highest year on record in terms of investment demand.

India led the world in gold jewelry demand with more than 745 tons. China was a distant second at just under 400 tons and the U.S. third at 128 tons.While the pace of consumption has slowed in several countries, gold consumption for jewelry remains at elevated levels around the world.

The story behind the rise in demand is one you’ve heard from us before. The WGC’s data is validation that the love trade is firing on all cylinders.

The love trade is significant and unique to gold. People buy gold out of love and those in emerging markets are especially amorous of the metal. In fact, the four strongest markets for gold jewelry demand (India, Hong Kong, China and Russia) accounted for 60 percent of the entire jewelry market in 2010.

The rise in Chinese gold demand goes hand-in-hand with a rise in average incomes for Chinese citizens. Last year, 20 million migrant workers in China saw their incomes rise 24 percent. Compare this to the U.S. where the job market has shown some signs of life, but continues to sputter.


  • Precious metals are of course precious and men and women love them - Gold, Silver, Platinum, Palladium.
  • Crude and Natural Gas keep the world moving.
  • Base Metals - Aluminium, Copper, Lead, Nickel and Zinc are widely used in industry.
  • Email, Share Market, BSE, NSE, Tips
 
Recent Articles By Abhijeet Soni:

Get Trial

TRIAL

SEND SMS FOR TRIAL

EQUITY - COMMODITY OR BOTH

TO

 09920033678

www.GoldSilverAlert.com

Advertisement