RESEARCH AND ANALYSIS
Some key finding of the latest GMFS Gold Survey:
. Q1 2016 saw a resurgence in Western investment
interest in gold, particularly in the U.S. where ETF buying accounted for 330
tonnes.
. Physical demand for gold tumbled 24% to just 781
tonnes, the lowest quarterly total since the first quarter of 2009.
. Traditional powerhouses India and China saw
plummeting demand, partly due to higher prices, and in India's case, the
budget and ensuing jewellers' strike which resulted in a 56% year-on-year
drop in jewellery consumption.
. GFMS analysts believe the rally in gold prices
during Q1 developed too rapidly and expect a correction to comfortably under
$1,200.
. Thereafter, they anticipate a recovery in demand
from the East, predicting gold prices are set to resume their bull run and
will be trading around $1,300 towards year end.
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Gold Survey 2016 Q1 Update & Outlook
The Perth Mint is a Major Sponsor of the GMFS Gold Survey
