NEWNESS: SOMALIA ELEPHANT. GOLD 31.10 GS. 2010
The news

Financial uncertainty unties the fever of gold between the particular investors

The Russian bank Sberbank sells the triple of gold to its clients until October that in all 2007. The world-wide demand of gold in dollars reached in the third trimester of the year a quarterly historical maximum of 32,000 million dollars (25,385 million Euros) by the demand of the investors worldwide of a “refuge? before international the financial crisis and the return to the market of the buyers of the sector jeweller by the slope of the price of the precious metal.

 

In agreement with the data of the last sectorial report elaborated by the World-wide Council of Gold, the demand of the third trimester represents an increase of 45% with respect to the previous record registered in the second trimester, and emphasizes that the demanded tonnage went a 18% superior to the one of the same period of 2007.

The demand of gold coming from identifiable investors, that includes that one coming from ETFs, ingots and currencies, was the main person in charge of this increase, when reaching the 10,700 million dollars (8,497 million Euros) and 382 tons, the double that for a year.

Also, the data show that the demand coming from particular investors grew a 121%, until the 232 tons, with a fort increase of the purchases of ingots and currencies in the markets of Switzerland, Germany and the USA.

In this way, during the third trimester numerous information regarding problems of shortage in the gold provision were stated between the ingot operators worldwide before the search of “refuge? on the part of the investors.

In particular, Europe registered an historical maximum in the demanded tonnage, when reaching the 51 tons of ingots and acquired currencies, whereas France happened to become net gold investor for the first time from beginnings of the 80.

On the other hand, the report indicates that during the third trimester a demand record of gold jewelry shop was registered for the sum of 18,000 million dollars (14,284 million Euros) on the part of the consumers, whereas the wholesalers returned to the market when falling the price of the precious metal below the 800 dollars by ounce.

 

 

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KOKABURRA 2009. CURRENCY OF A KILO
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