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GFMS Gold Survey Q1 2016

Topics [ gold bull market ]

RESEARCH AND ANALYSIS

Some key findings of the latest GMFS Gold Survey:

 • Q1 2016 saw a resurgence in Western investment interest in gold, particularly in the U.S. where ETF buying accounted for 330 tonnes.

 • Physical demand for gold tumbled 24% to just 781 tonnes, the lowest quarterly total since the first quarter of 2009.

 • Traditional powerhouses India and China saw plummeting demand, partly due to higher prices, and in India’s case, the budget and ensuing jewellers’ strike which resulted in a 56% year-on-year drop in jewellery consumption.

 • GFMS analysts believe the rally in gold prices during Q1 developed too rapidly and expect a correction to comfortably under $1,200.

 • Thereafter, they anticipate a recovery in demand from the East, predicting gold prices are set to resume their bull run and will be trading around $1,300 towards year end.

Download Gold Survey 2016 Q1 Update & Outlook

The Perth Mint is a Major Sponsor of the GMFS Gold Survey

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