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November 15, 2013

#Gold`s inexorable move east - a #chart says it all

this flow can also be marked in the volume of the metal being converted from London Good Delivery bar-form into smaller, 'Asian consumer-friendly denominations of kilo-bars and below...
Further proof of the yellow metal's journey east comes in the form of a graph from the World Gold Council.

Chart demonstrating gold's inexorable move east

GOLD NEWS

Author: Geoff Candy
Posted: Thursday , 14 Nov 2013 
GRONINGEN (MINEWEB) - 
The graph below is from The World Gold Council's latest Gold Demand Trends report and is appropriately titled West to east.
The Council makes the point in its commentary that this flow can also be marked in the volume of the metal being converted from London Good Delivery bar-form into smaller, 'Asian consumer-friendly denominations of kilo-bars and below'.
According to the WGC, "Eurostat show exports of gold from the UK to Switzerland for the January – August period grew more than tenfold, to 1,016.3t.1 This compares with a total of just 85.1t for the same period in 2012."
This trend is something Mineweb has watched with interest over recent years; the graph below is just further proof of just how sharply the move is happening.

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