Gold Supply and Demand – Q2 2007
Dollar demand for gold in the jewellery, retail investment and industrial sectors all reached new heights in the second quarter of 2007. Global demand for gold jewellery showed the strongest surge, reaching a record $14.5 billion, 37% higher than Q2 2006, with particular strength across the key gold markets of Greater China, India, the Middle East and Turkey.
A return to more normal levels of gold price volatility, growing acceptance by consumers of a price that averaged 6% above the same period a year ago, and strong economic performances in the key consuming regions all helped gold to set records in the second quarter, according to Gold Demand Trends, released today by the World Gold Council (WGC).
In tonnage terms India, the world’s largest gold market, achieved all-time records in both jewellery and retail investment. Turkey achieved second-quarter records for both categories while Russia recorded its highest ever level of jewellery demand.
Read about Gold Demand Trends in our detailed briefing note, which also includes commentary on supply.
Press release: Global demand for gold jewellery reaches a record $14.5 billion
Data on the supply and demand for gold are compiled by GFMS Ltd. The company provides a number of tables exclusively for the World Gold Council. The following table shows a summary of gold demand. Links to more detailed tables, and to notes and copyright information, are given below. Please note the restrictions on disseminating these data.
Notes: Source: Tonnage data are GFMS Ltd. Value data are WGC calculations based on GFMS data.
Notes: 1. Identifiable end-use consumption excluding central
banks
. 2. Provisional .
3. “Other retail” excludes bar and primary coin offtake; it represents mainly activity in North America and Western Europe.
4. Exchange Traded Funds and similar products including: LyxOR Gold Bullion Securities, Gold Bullion Securities (Australia), streetTRACKS Gold Shares, NewGold Gold Debentures, iShares Comex Gold Trust, ZKB Gold ETF, GOLDIST, ETF Securities, Central Fund of Canada and Central Gold Trust.
GFMS should be contacted for further information or for past data. In addition, certain data are available on Bloomberg.
End-use consumption (tonnes) >>
This provides details of jewellery consumption, industrial and dental fabrication, and all categories of investment which are statistically identifiable.
End-use consumption ($m) >>
Similar information in US dollars.
Supply and demand (tonnes) >>
In addition to a summary of demand information this also shows the categories of supply: mine output, net hedging or de-hedging by mining companies, scrap and net central bank sales.
Detailed notes and copyright information >>
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