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India, China boost Asia gold demand to record level: WGC
May 29, 2013
12:00 pm
Harrey Martin
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Forum Posts: 74
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May 8, 2013
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Asian gold demand from April to June will reach a quarterly record as bullion consumers in the region take possession of supply freed up by selling from exchange-traded funds (ETFs), the World Gold Council (WGC) said on Wednesday.

Gold prices fell to their lowest in more than two years at USD 1,321.35 an ounce in mid-April on signs of economic improvement in main markets and fears that central banks around the world could start to curtail their bullion-friendly policy measures.

The move scared investors in the West, triggering a sharp liquidation of speculative and ETF positions. But lower prices also prompted strong physical demand from price-sensitive countries such as India and China, which together account for more than 50 percent of consumer demand for bullion.

"Asian markets will see record quarterly totals of gold demand in the second quarter of 2013," WGC managing director Marcus Grubb said.

Read more: http://harreymartin.tumblr.com…..cord-level

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