“Growing recognition of gold as an important and independent asset” – World Gold Council

Gold investment remained very strong in the second quarter of 2009, rising 46% (222 t) on year earlier levels. Overall, demand fell back from recent high levels, during the previous three quarters, as the combination of weak economic conditions and high prices made an impact, according to the Q2′09 Gold Demand Trends report published by World Gold Council (WGC). Although gold demand remains very high on a historical basis, in Q209 it was down 9% compared to a year earlier, a 6% decline in value terms to $21.3 billion. The figures, compiled independently for WGC by, precious metals consultancy, GFMS, show that total identifiable investment demand, which includes exchange traded funds (ETFs) and bars and coins, remained very strong. (more…)