Q1 09 saw a record level of investment in gold ETFs – World Gold Council
“Fears of future inflation and ongoing financial uncertainty saw investors continue to flock to gold in the first quarter of 2009, seeking out its proven wealth preservation qualities,” according to the World Gold Council (WGC). The WGC’s Q1′09 Gold Demand Trends report shows that total demand for gold in Q1′09 rose 38% year on year to 1,016 t, representing a 36% rise in value terms to $29.7 billion. According to published figures, identifiable investment demand for gold, which includes exchange traded funds, (ETFs) and bars and coins, was the major source of growth in the quarter, reaching 596 t, up 248% on Q1′08. These figures, compiled independently for WGC by metals consultancy GFMS, reveal a record level of investment into ETFs with demand soaring 540% to 465 t at a value of $13.6 billion. (more…)
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