The Supply and Demand for Gold

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. 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, Central Fund of Canada and Central Gold Trust.

The Gold Price

The gold price used in the charts and statistics on this site is the London PM fix. This price is quoted in US dollars. Where the gold price is presented in currencies other than the US dollar, it is converted into the local currency unit using the foreign exchange rate closing price on the same day. For example, the London PM fix on 31st October 2003 was USD 386.25 and the closing price for one USD was GBP 0.591. The gold price in pounds sterling (GBP) would therefore be calculated as ?228.24.

Like all prices, the gold price reflects not only the inherent value of gold, but also the relative strength of the currency in which it is quoted. For example, the dollar price of gold may increase more in percentage terms than the sterling price of gold, to the extent that the change in price is a reflection of dollar weakness (in this case, against sterling) rather than an intrinsic change in gold market fundamentals. For this reason, our Investment Statistics contain charts showing an index of the gold price in US dollars and local currency units as well as the relevant US dollar / local currency unit exchange rate for countries other than the United States. In addition, our “G5” price index is an average (weighted by GDP) of the gold price in US dollars, Euros, Yen, Sterling and the Canadian dollar; this is calculated to compensate for changes in the gold price that are simply a reflection of one currency’s movement.

Source - www.gold.org

Date: 2015-12-24; view: 869