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EU Gold Investment Demand Surges 135% - World Demand Up 6% in Q3 2011
Gold is trading at USD 1,759.10, EUR 1,305.60, GBP 1,116.30, CHF 1,618.20, and JPY 135,390 per ounce. Gold's London AM fix this morning was USD 1,756.00, GBP 1,115.70, and EUR 1,304.12 per ounce. Yesterday's AM fix was USD 1,773.00, GBP 1,124.43, and EUR 1,311.49 per ounce.
Gold Demand Trends (Q3 2011) released today by the World Gold Council Click Here shows that investment and central bank demand for gold were key drivers of total gold demand last quarter. Third quarter gold demand increased 6% year on year to 1,053.9 tonnes with investment demand rising a significant 33% y/y to 468.1T.
A huge and paradigm shift change in the gold market is central bank buying which rose 556% to 148.4T from 22.6T in Q3 last year. For the past 15 years there has been net selling of around 400 tonnes per annum from central banks. The fact that there is 100 tonnes of new central bank buying that is unaccounted for is not surprising to GoldCore and analysts who have long been saying that the People's Bank of China and other central banks are likely continuing to quietly and gradually accumulate large quantities of bullion. They are not declaring their purchases due to concerns that this may further devalue their currency reserves which are mostly in US dollars and also in euros and would result in them having to pay higher gold prices for their new gold reserves. Given gold's proven risk mitigation, hedging and safe haven properties, it is likely that savers and investors will continue to seek protection from economic uncertainty.
This uncertainty shows no signs of abating and indeed appears to be set to deepen in the coming weeks and into 2012. Scaring investors from diversifying into gold by comparing the gold market today to the 1970s boom and bubble burst continues to be unfortunate and imprudent. It is a simplistic theory propagated by the biased and by those who have not bothered to inform themselves about the gold market.
SILVER Silver is trading at $33.04/oz, €24.54/oz and £21.00/oz
PLATINUM GROUP METALS Platinum is trading at $1,602.20/oz, palladium at $630.00/oz and rhodium at $1,600/oz.
Please click here to read the rest of GoldCore's Market Update.
The GoldSaver Account allows anyone to buy and save gold online from just $150, £150 or €150 per month.
GoldSaver gold holdings are purchased from the Perth Mint of Western Australia. It is stored in their secure vaults, insured and government guaranteed by the AAA rated Western Australian government. Deposits and gold holdings are also independently verified by our auditor on a monthly basis. Find out more about GoldSaver or sign up here.
We provide comprehensive pricing for South African Krugerrands, American Eagles, Canadian Maple Leafs, British Sovereigns, Silver Eagles, 1 Kilo Gold bars and many more. We also provide live Perth Mint Certificate Programme prices on gold, silver and platinum.
The GoldSaver Account is a unique service that allows clients to purchase small amounts of gold on a monthly basis in a secure and cost effective manner. The GoldSaver Account is suitable for investors of any size looking to diversify their savings.
The Perth Mint Certificate Programme allows investors, savers, pension holders and companies to own investment grade bullion which is stored in vaults in the Perth Mint of Western Australia (est. 1899; AAA rating). The programme is insured by Lloyds of London and is fully guaranteed by the government of Western Australia.
GoldCore Secure Storage allows clients to store their gold bullion in ultra secure vaults in Zurich, Hong Kong, Singapore, London and internationally in a cost effective manner. Bullion is held in custody and under a bailment arrangement meaning that the client has a direct claim upon the bullion held in their name.
Disclaimer: The information in this document has been obtained from sources, which we believe to be reliable. We cannot guarantee its accuracy or completeness. It does not constitute a solicitation for the purchase or sale of any investment. Any person acting on the information contained in this document does so at their own risk. Recommendations in this document may not be suitable for all investors. Individual circumstances should be considered before a decision to invest is taken. Investors should note the following: Past experience is not necessarily a guide to future performance. The value of investments may fall or rise against investors' interests. Income levels from investments may fluctuate. Changes in exchange rates may have an adverse effect on the value of, or income from, investments denominated in foreign currencies. GoldCore Limited, trading as GoldCore. The provision of precious metal product or service does not require licensing, authorisation, or registration with the Irish Central Bank and, as a result, it is not covered by the Central Bank's requirements designed to protect consumers or by a statutory compensation scheme.
GoldCore is committed to complying with the requirements of the Data Protection Act. This means that in the provision of our services, appropriate personal information is processed and kept securely. It also means that we will never sell your details to a third party. The information you provide will remain confidential and may be used for the provision of related services. Such information may be disclosed in confidence to agents or service providers, regulatory bodies and group companies. You have the right to ask for a copy of certain information held by us in our records in return for payment of a small fee. You also have the right to require us to correct any inaccuracies in your information. The details you are being asked to supply may be used to provide you with information about other products and services either from GoldCore or other group companies or to provide services which any member of the group has arranged for you with a third party. If you do not wish to receive such contact, please write to the Marketing Manager GoldCore, 14 Fitzwilliam Square, Dublin 2 marking the envelope 'data protection'.
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 Stoxx 600, German Bunds and Euro Assets (Reuters Chart)
Celente became the latest victim of the MF Global bankruptcy when funds, in the six figures, in his gold futures account were taken (or 'looted' as Celente called it) by Chapter 11 trustees. Celente was hit with a margin call within days of the corporate shutdown despite his account being fully funded.
Celente is astute and is on record regarding the importance of owning physical gold bullion. The incident shows the increasingly fundamental importance of owning physical bullion – either by taking delivery or by owning in personal allocated accounts.
SILVER Silver is trading at $34.47/oz, €25.55/oz and £21.83/oz
PLATINUM GROUP METALS Platinum is trading at $1,629.20/oz, palladium at $655.50/oz and rhodium at $1,600/oz.
Please click here to read the rest of GoldCore's Market Update.
The GoldSaver Account allows anyone to buy and save gold online from just $150, £150 or €150 per month.
GoldSaver gold holdings are purchased from the Perth Mint of Western Australia. It is stored in their secure vaults, insured and government guaranteed by the AAA rated Western Australian government. Deposits and gold holdings are also independently verified by our auditor on a monthly basis. Find out more about GoldSaver or sign up here.
We provide comprehensive pricing for South African Krugerrands, American Eagles, Canadian Maple Leafs, British Sovereigns, Silver Eagles, 1 Kilo Gold bars and many more. We also provide live Perth Mint Certificate Programme prices on gold, silver and platinum.
The GoldSaver Account is a unique service that allows clients to purchase small amounts of gold on a monthly basis in a secure and cost effective manner. The GoldSaver Account is suitable for investors of any size looking to diversify their savings.
The Perth Mint Certificate Programme allows investors, savers, pension holders and companies to own investment grade bullion which is stored in vaults in the Perth Mint of Western Australia (est. 1899; AAA rating). The programme is insured by Lloyds of London and is fully guaranteed by the government of Western Australia.
GoldCore Secure Storage allows clients to store their gold bullion in ultra secure vaults in Zurich, Hong Kong, Singapore, London and internationally in a cost effective manner. Bullion is held in custody and under a bailment arrangement meaning that the client has a direct claim upon the bullion held in their name.
Disclaimer: The information in this document has been obtained from sources, which we believe to be reliable. We cannot guarantee its accuracy or completeness. It does not constitute a solicitation for the purchase or sale of any investment. Any person acting on the information contained in this document does so at their own risk. Recommendations in this document may not be suitable for all investors. Individual circumstances should be considered before a decision to invest is taken. Investors should note the following: Past experience is not necessarily a guide to future performance. The value of investments may fall or rise against investors' interests. Income levels from investments may fluctuate. Changes in exchange rates may have an adverse effect on the value of, or income from, investments denominated in foreign currencies. GoldCore Limited, trading as GoldCore. The provision of precious metal product or service does not require licensing, authorisation, or registration with the Irish Central Bank and, as a result, it is not covered by the Central Bank's requirements designed to protect consumers or by a statutory compensation scheme.
GoldCore is committed to complying with the requirements of the Data Protection Act. This means that in the provision of our services, appropriate personal information is processed and kept securely. It also means that we will never sell your details to a third party. The information you provide will remain confidential and may be used for the provision of related services. Such information may be disclosed in confidence to agents or service providers, regulatory bodies and group companies. You have the right to ask for a copy of certain information held by us in our records in return for payment of a small fee. You also have the right to require us to correct any inaccuracies in your information. The details you are being asked to supply may be used to provide you with information about other products and services either from GoldCore or other group companies or to provide services which any member of the group has arranged for you with a third party. If you do not wish to receive such contact, please write to the Marketing Manager GoldCore, 14 Fitzwilliam Square, Dublin 2 marking the envelope 'data protection'.
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
Paulson & Co. sold a third of their SPDR holding which is quite a large liquidation. However, Paulson remains bullish on gold as was seen in positive comments he made recently so it would seem likely that this sale may have been an effort to raise cash after his fund suffered sharp losses in the last quarter. Some hedge funds sold the ETF to cover losses during a rout that erased $7.8 trillion from the value of global equities since May.
SILVER Silver is trading at $34.33/oz, €25.35/oz and £21.64/oz
PLATINUM GROUP METALS Platinum is trading at $1,631.20/oz, palladium at $654/oz and rhodium at $1,525/oz.
Please click here to read the rest of GoldCore's Market Update.
The GoldSaver Account allows anyone to buy and save gold online from just $150, £150 or €150 per month.
GoldSaver gold holdings are purchased from the Perth Mint of Western Australia. It is stored in their secure vaults, insured and government guaranteed by the AAA rated Western Australian government. Deposits and gold holdings are also independently verified by our auditor on a monthly basis. Find out more about GoldSaver or sign up here.
We provide comprehensive pricing for South African Krugerrands, American Eagles, Canadian Maple Leafs, British Sovereigns, Silver Eagles, 1 Kilo Gold bars and many more. We also provide live Perth Mint Certificate Programme prices on gold, silver and platinum.
The GoldSaver Account is a unique service that allows clients to purchase small amounts of gold on a monthly basis in a secure and cost effective manner. The GoldSaver Account is suitable for investors of any size looking to diversify their savings.
The Perth Mint Certificate Programme allows investors, savers, pension holders and companies to own investment grade bullion which is stored in vaults in the Perth Mint of Western Australia (est. 1899; AAA rating). The programme is insured by Lloyds of London and is fully guaranteed by the government of Western Australia.
GoldCore Secure Storage allows clients to store their gold bullion in ultra secure vaults in Zurich, Hong Kong, Singapore, London and internationally in a cost effective manner. Bullion is held in custody and under a bailment arrangement meaning that the client has a direct claim upon the bullion held in their name.
Disclaimer: The information in this document has been obtained from sources, which we believe to be reliable. We cannot guarantee its accuracy or completeness. It does not constitute a solicitation for the purchase or sale of any investment. Any person acting on the information contained in this document does so at their own risk. Recommendations in this document may not be suitable for all investors. Individual circumstances should be considered before a decision to invest is taken. Investors should note the following: Past experience is not necessarily a guide to future performance. The value of investments may fall or rise against investors' interests. Income levels from investments may fluctuate. Changes in exchange rates may have an adverse effect on the value of, or income from, investments denominated in foreign currencies. GoldCore Limited, trading as GoldCore. The provision of precious metal product or service does not require licensing, authorisation, or registration with the Irish Central Bank and, as a result, it is not covered by the Central Bank's requirements designed to protect consumers or by a statutory compensation scheme.
GoldCore is committed to complying with the requirements of the Data Protection Act. This means that in the provision of our services, appropriate personal information is processed and kept securely. It also means that we will never sell your details to a third party. The information you provide will remain confidential and may be used for the provision of related services. Such information may be disclosed in confidence to agents or service providers, regulatory bodies and group companies. You have the right to ask for a copy of certain information held by us in our records in return for payment of a small fee. You also have the right to require us to correct any inaccuracies in your information. The details you are being asked to supply may be used to provide you with information about other products and services either from GoldCore or other group companies or to provide services which any member of the group has arranged for you with a third party. If you do not wish to receive such contact, please write to the Marketing Manager GoldCore, 14 Fitzwilliam Square, Dublin 2 marking the envelope 'data protection'.
Gold $1,759.10/oz Silver $33.04/oz Platinum: $1,602.20/oz
Gold Demand Trends (Q3 2011) released today by the World Gold Council 
A huge and paradigm shift change in the gold market is central bank buying which rose 556% to 148.4T from 22.6T in Q3 last year. For the past 15 years there has been net selling of around 400 tonnes per annum from central banks. The fact that there is 100 tonnes of new central bank buying that is unaccounted for is not surprising to GoldCore and analysts who have long been saying that the People's Bank of China and other central banks are likely continuing to quietly and gradually accumulate large quantities of bullion. They are not declaring their purchases due to concerns that this may further devalue their currency reserves which are mostly in US dollars and also in euros and would result in them having to pay higher gold prices for their new gold reserves. Given gold's proven risk mitigation, hedging and safe haven properties, it is likely that savers and investors will continue to seek protection from economic uncertainty. 
Please 
Euro/Gold Outperforms Stoxx 600, German Bunds and Euro Assets (Reuters Chart) 
