Gold Demand Trends
First Quarter 2014
Alistair Hewitt & Somasundarum PR
22 May 2014
Disclaimer
2
This presentation is provided solely for general information and educational purposes. It is not, and should ...
Agenda
3World Gold Council | Gold Demand Trends First Quarter 2014 | May 2014
• Summary of the first quarter 2014
• Review...
Context: 2013 was an exceptional year
4World Gold Council | Gold Demand Trends First Quarter 2014 | May 2014
First quarter gold demand steady at 1,074 tonnes
5World Gold Council | Gold Demand Trends First Quarter 2014 | May 2014
Investors adopted “wait and see” approach after
2013
6World Gold Council | Gold Demand Trends First Quarter 2014 | May 2014
Net purchases of 122t within three-year range
7World Gold Council | Gold Demand Trends First Quarter 2014 | May 2014
CBGA signatories are no longer active sellers
8World Gold Council | Gold Demand Trends First Quarter 2014 | May 2014
Jewellery demand maintains lofty levels
9World Gold Council | Gold Demand Trends First Quarter 2014 | May 2014
Supported by lower prices & seasonality
10World Gold Council | Gold Demand Trends First Quarter 2014 | May 2014
Shanghai premium reverted to longer term range
11World Gold Council | Gold Demand Trends First Quarter 2014 | May 2014
Increased mine production offset by lower recycling
12World Gold Council | Gold Demand Trends First Quarter 2014 | May 2014
Conclusion
13
• Maintained the lofty levels seen in Q1 2014
• Investment demand was flat; its constituent parts pulled in ...
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World gold council gold demand trends q1 2014

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World gold council gold demand trends q1 2014

  1. 1. Gold Demand Trends First Quarter 2014 Alistair Hewitt & Somasundarum PR 22 May 2014
  2. 2. Disclaimer 2 This presentation is provided solely for general information and educational purposes. It is not, and should not be construed as, an offer to buy or sell, or as a solicitation of an offer to buy or sell, gold, any gold related products or any other products, securities or investments. It does not, and should not be construed as acting to, sponsor, advocate, endorse or promote gold, any gold related products or any other products, securities or investments. This presentation does not purport to make any recommendations or provide any investment or other advice with respect to the purchase, sale or other disposition of gold, any gold related products or any other products, securities or investments, including without limitation, any advice to the effect that any gold related transaction is appropriate for any investment objective or financial situation of a prospective investor. A decision to invest in gold, any gold related products or any other products, securities or investments should not be made in reliance on any of the statements in this presentation. Before making any investment decision, prospective investors should seek advice from their financial advisers, take into account their individual financial needs and circumstances and carefully consider the risks associated with such investment decision. While the accuracy of any information communicated herewith has been checked, neither the World Gold Council nor any of its affiliates can guarantee such accuracy. In no event will the World Gold Council or any of its affiliates be liable for any decision made or action taken in reliance on the information in this presentation or for any consequential, special, punitive, incidental, indirect or similar damages arising from, related to or connected with this presentation even if notified of the possibility of such damages. All references to The London Gold Market Fixing prices are used with the permission of The London Gold Market Fixing Limited and have been provided for informational purposes only. The London Gold Market Fixing Limited accepts no liability or responsibility for the accuracy of the prices or the underlying product to which the prices may be referenced. GFMS, Thomson Reuters content is the intellectual property of Thomson Reuters. Any copying, republication or redistribution of Thomson Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Thomson Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon. "Thomson Reuters" and the Thomson Reuters Logo are trademarks of Thomson Reuters and its affiliated companies. No part of this presentation may be copied, reproduced, republished, sold, distributed, transmitted, circulated, modified, displayed or otherwise used for any purpose whatsoever, including, without limitation, as a basis for preparing derivative works, without the prior written authorization of the World Gold Council Expressions of opinion are those of the author and are subject to change without notice. World Gold Council | Gold Demand Trends First Quarter 2014 | May 2014
  3. 3. Agenda 3World Gold Council | Gold Demand Trends First Quarter 2014 | May 2014 • Summary of the first quarter 2014 • Review of demand -Investment -Central Banks -Jewellery • Review of supply • Conclusion
  4. 4. Context: 2013 was an exceptional year 4World Gold Council | Gold Demand Trends First Quarter 2014 | May 2014
  5. 5. First quarter gold demand steady at 1,074 tonnes 5World Gold Council | Gold Demand Trends First Quarter 2014 | May 2014
  6. 6. Investors adopted “wait and see” approach after 2013 6World Gold Council | Gold Demand Trends First Quarter 2014 | May 2014
  7. 7. Net purchases of 122t within three-year range 7World Gold Council | Gold Demand Trends First Quarter 2014 | May 2014
  8. 8. CBGA signatories are no longer active sellers 8World Gold Council | Gold Demand Trends First Quarter 2014 | May 2014
  9. 9. Jewellery demand maintains lofty levels 9World Gold Council | Gold Demand Trends First Quarter 2014 | May 2014
  10. 10. Supported by lower prices & seasonality 10World Gold Council | Gold Demand Trends First Quarter 2014 | May 2014
  11. 11. Shanghai premium reverted to longer term range 11World Gold Council | Gold Demand Trends First Quarter 2014 | May 2014
  12. 12. Increased mine production offset by lower recycling 12World Gold Council | Gold Demand Trends First Quarter 2014 | May 2014
  13. 13. Conclusion 13 • Maintained the lofty levels seen in Q1 2014 • Investment demand was flat; its constituent parts pulled in from the extremes witnessed last year: - ETF flows were close to zero; an improvement on the net outflow of 177t Q1 2013 - Bar and coin demand fell 182t to 283t • At 122t central banks recorded their 13th consecutive quarter of positive net demand; near zero sales from CBGA signatories • Jewellery demand grew 3% to 571t, with continued growth in China and the US. Indian demand fell but is in line with its 5 year average • Supply rose by 1% as mine production growth outweighed a drop in recycling activity World Gold Council | Gold Demand Trends First Quarter 2014 | May 2014

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