WGC Says Central Banks Underpinning Gold Price Tangible Investments and GoCoins.com buy and sell rare coins, precious metals, fine art and jewelry.   BBB - Better Business Bureau
 info@gocoins.com Tangible Investments, LLC. | 1910 S Coast Hwy | Laguna Beach, CA 92651 facebook twitter YouTube LinkedIn Google+ Instagram Pinterest Email  
WGC Says Central Banks Underpinning Gold Price
Posted May 20th, 2014

Los Angeles CA, May 20 (Tangible Investments) - by James O’Dell - Gold and silver prices turned modestly lower on Monday after an early morning rally, as gold finished flat, easing $0.19 or 0.02 percent to close at $1,292.41 an ounce, while silver dipped $0.01 or 0.87 percent to close at $19.34 an ounce, as the gold/silver ratio inched higher to 66.90.
 
The World Gold Council (WGC) released its latest Gold Demand Trends for the first quarter of 2014, and it shows that consumers are responding positively to the lower gold prices, as demand for gold jewelry grew 3 percent year-on-year to hit 571 tons, its best showing since 2005. While demand among nations has been wide ranging, geographically, China posted the largest volume increase of 18 tons from the previous year.
 
Investment demand for the first quarter rose to 282 tons and was just 6 tons shy of the year previous, while bar and coin demand was down sharply, but outflows from gold-backed ETFs (paper gold) was practically nil compared to last year's outflows of 177 tons.
 
Overall demand from the technology sector fell to 99 tons, a 4 percent first quarter decline, driven primarily by cost cutting as manufacturers settled for cheaper alternatives. Central bank buying topped 100 tons in the first quarter and marked the 13th straight quarter of net purchases by banks diversifying their holdings. A moderate increase in global mine production was balanced by a decline in recycled gold, and led to a first quarter total supply figure of 1,048 tons of bullion.
 
The WGC said that it welcomes the new accord by European central banks on the latest Central Bank Gold Agreement (CBGA). Less than 25 tons of an agreed limit of 2,000 tons of gold has been sold over the past 5 years by the 21 European central banks that have agreed to the CBGA.  Most of the sales were for the minting of gold coins.

Preserve your wealth and secure your retirement by making a tangible investment in physical Gold and Silver in 2014. Call Toll Free 1.800.741.5014 and allow the friendly staff at Tangible Investments (learn about us here), owned and operated by world-renowned coin expert Silvano DiGenova, to assist you in your next purchase or sale. We hope you will share our site with your friends on Twitter and Facebook, but whatever you do, don't leave the site before claiming your Free Coin.



Gallery or Rarities

View our Selection of Rare Coins

Why Choose Tangible Investments?
Contact Form
Name*

Email*

Message


CAPTCHA Image   Reload Image
Security Code*
Subscribe to Our Newsletter
Professional Memberships
Professional Memberships BBB - Better Business Bureau ICTA - Industrial Council for Tangible Assets NGC - Numismatic Guaranty Corporation PNG - Professional Numismatic Guild ANA - American Numismatic Association PCGS - Professional Coin Grading Service
Follow Us
facebook
twitter
YouTube
LinkedIn
Google+
Instagram
Pinterest
Email
Contact Us
Call: 888.655.9255
Email: info@gocoins.com

Hours of Operation
Monday - Friday 10 AM to 5 PM
Saturday 10 AM to 4 PM
Sunday Closed

Huntington Beach:
16121 Beach Blvd.
Huntington Beach, CA 92647

Laguna Beach:
1910 S Coast Hwy
Laguna Beach, CA 92651

Click Here for Directions
Click Here for Directions
HOME      ABOUT US      BUY FROM US      SELL TO US      LOANS      CONSIGN/AUCTION      SERVICES      MEDIA      CONTACT US
Copyright © 2020 Tangible Investments, LLC. All Rights Reserved. Privacy Policy | Terms & Conditions 
PCGS CO-FOUNDER - MORE THAN $2 BILLION TRANSACTED - 200 YEARS COMBINED EXPERIENCE
Coins & Currency - Gold - Silver - Platinum - Watches - Jewelry
Tangible Investments, LLC. | 888.655.9255 | info@gocoins.com
Huntington Beach: 16121 Beach Blvd. | Huntington Beach, CA 92647
Laguna Beach: 1910 S Coast Hwy | Laguna Beach, CA 92651