Author Topic: These countries are hoarding the world's gold  (Read 698 times)

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These countries are hoarding the world's gold
« on: May 15, 2015, 05:20:03 AM »
The World Gold Council is out with its latest report on gold demand.
In the first quarter, demand dropped by 11 tonnes, or 1%, year-over-year.

"Top-line demand was broadly neutral down just 11t (1%) despite substantial underlying differences across geographies and sectors," the report said.

"Pockets of strength in jewelry were balanced by weakness elsewhere as demand responded to local conditions in each market. Higher volumes in India, the US, and the smaller Southeast Asian markets were set against declines in China, Turkey, Russia, and the Middle East."

On Thursday, gold continued its rally after breaking above the key $1,200 level on Wednesday.

Gold rose to as high as $1,223 an ounce, its highest level in three months.

And so with gold demand broadly neutral, this chart shows which countries are holding the most gold:

"Price is the most important factor to use in relation to value."  - Walter Schloss