True Economics

Gold Coin Demand in H1 2012 Shows Fundamentals Driving Current Demand

By Dr. Constantin Gurdgiev

Based on data from the US Mint we can now update H1 2012 figures for sales of the US-minted gold coins. As the background - new coins issued by the US Mint, in my opinion, represent a much more fundamentals-linked asset as the demand for these coins differs, if only subtly, from the demand for gold as an asset:

* Coins are purchased by long-hold collectors;

* Coins are easier to purchase and store than gold bars, attracting more demand from savers, rather than speculative investors; and

* Coins are used frequently to sto

True Economics

Gold Demand: Q1 2012 - Dr. Constantin Gurdgiev

Q1 2012 global gold demand figures were published last week and, surprise, surprise, there has been some decline in investment components of demand. Predictably. What is surprising, however, are the dynamics. For some time now we've been hearing about the gold bubble and about recent price moderations being the sign of the proverbial 'hard landing'. Sorry to disappoint you, not yet.

Let's chart some data and discuss:

*Jewellery demand increased from 476 tons in Q4 2011 to 520 tons in Q1 2012 - a rise of 9.24% q/q, but a drop of 6.3% y/y. This contrasts price movements (see bel


Gold Demands Trend (Q1 2012) - Enter The Dragon

The World Gold Council has released the Q1 2012 Gold Demands Trend report.

Gold demand grew 16% over the past 12 months to 1,098 tonnes which had a value of just $59.7bn spent on gold in the entire world in Q1 2012.

While global demand was down 5% from the record high of Q4 2011, it was significantly higher than demand in Q1 2011 suggesting that demand may be consolidating at these higher levels.

Investment Demand

Investment demand again dominated as under owned gold conti

True Economics

Gold Coins (US Mint) In Q1 2012 Show "No Hysteria and No Bubble"

Posted by 

Time to update the data for Q1 2012 US Mint gold coins sales - something I have been doing as a sort of an ongoing project.

As before, there is much volatility sloshing around, and as before, there is less drama when one takes a closer look at the data.

Q1 2012 volume of sales (oz) of US Mint coins fell 29.7% year on year, and 22.3% on 2010. The demand is also down 38.5% on 2009. Total volume of

True Economics

US Mint Sales for January - signaling return to fundamentals-driven demand?

Posted by Dr. Constantin Gurdgiev January data is out for US Mint sales and time to update my semi-regular analysis. Here's the note. I am putting a disclaimer below - so the Irish stuffbrokers' community that somehow gets their facts wrong when no one is around to correct them breaths easier. Everything you read below is my personal opinion informed by my analysis of the official data from the US Mint. January d


2012 Outlook for Gold – Positive Fundamentals Remain and Crucial Diversification

• Introduction – Gold in 2011 • Money Creating Central Banks May Push Gold to New Nominal Record in 2012  • Central Banks Will Continue To Be Net Buyers of Gold • China Foreign Exchange Diversification Should Support Demand • PIIGS Lesson: Iceland Shows How Gold Protects From FX Crises •


Gold as Store of Value

Stephen Harmston, an Oxford University graduate, is an economist at Bannock Consulting which specialises in business research and economic consultancy.   He has written reports for a broad range of public and private sector clients. 

"Gold is a wonderful thing! Whoever possesses it is lord of all he wants. By means of gold one can even get souls into Paradise."   Columbus letter from Jamaica, 1503 (Cited by Karl Max, Das Capital, Vol 1)

Click here for to read

World Gold Council

Gold as a Strategic Asset for European Investors

During a period of extraordinarily serious economic uncertainty in the euro area, we wanted to examine the relevance of gold as a strategic asset for euro-based investors to protect their portfolios and to mitigate the sytematic risks being faced.

Click here to download full document.


World Gold Council

WGC Gold Demand Trends: Third Quarter 2011

Third quarter gold demand increased 6% year-on-year to 1,053.9 tonnes, worth a record US$57.7bn. A strong rise in investment demande drove the growth in overall demand, as investors across the globe sought wealth preservation, portfolio diversification and strong returns. Mine supply increased slightly, with mine production and recycling activity both contributing to the rise (WGC).


Euro Gold Outperforming Bunds and Euro Assets / Celente’s MF Global Gold Account ‘Looted’


Gold is trading at USD 1,775.20, EUR 1,318.30, GBP 1,125.30, CHF 1,630.20 , JPY 136,576 and CNY 11,263 per ounce. 

Gold’s London AM fix this morning was USD 1,773.00, GBP 1,124.43, and EUR 1,311.49 per ounce.

Yesterday's AM fix was USD 1,765.00, GBP 1,113.99, and EUR 1,302.39 per ounce.

Euro/Gold Outperforms S


Paulson Sells Gold ETF – Buys Physical Bullion? Soros Not Gold Bearish

Gold is trading at USD 1,768.20, EUR 1,305.30, GBP 1,113.30, CHF 1,620.20 , JPY 136,076 and CNY 11,223 per ounce. 

Gold’s London AM fix this morning was USD 1,765.00, GBP 1,113.99, and EUR 1,302.39 per ounce.

Yesterday's AM fix was USD 1,780.50, GBP 1,115.29, and EUR 1,299.06 per ounce.

Cross Currency Table