Gold demand at 14 year high in 2011; China rapidly becoming top consumer

Friday, February 17th 2012 - 01:20 UTC

Full article 10 comments

Gold demand struck 14-year highs in 2011, driven by record investment, buying in China, which could overtake India this year as the world's top consumer, and central bank purchases, which hit their highest in at least 40 years, according to a report on Thursday. Read full article

Comments

Disclaimer & comment rules

lsolde
Yum yum
Feb 17th, 2012 - 10:52 am - Link - Report abuse 0
-+
GreekYoghurt
Is there a Chinese population on the Falklands?
Feb 17th, 2012 - 11:08 am - Link - Report abuse 0
-+
Marcos Alejandro
Nice to remember that Gordon sold 60% of Britain gold reserves at rock botton prices.
Feb 17th, 2012 - 03:20 pm - Link - Report abuse 0
-+
GreekYoghurt
@3 That single fact was enough to convince the English, NI and Welsh of the merits of 'Scottish independence'.
Feb 17th, 2012 - 03:33 pm - Link - Report abuse 0
-+
Fido Dido
“The buyers are all ... in Latin America, Asia and the Far East and they are basically enjoying strong growth, fiscal surpluses and growing foreign exchange reserves,” he said.”

Aahhh, and that is so troubling for the dollar that's being dumped.
Feb 17th, 2012 - 05:55 pm - Link - Report abuse 0
-+
briton
So now is a good time to sell the other 40%

Wait until the price drops, and re-buy at a vastly lower costs, and get all our money back, if at all poss.,
Just a golden thought .
Feb 17th, 2012 - 07:45 pm - Link - Report abuse 0
-+
ChrisR
6briton
'Just a golden thought'

A friend of mine who had £9M in gold bullion as well as his businesses (one of them a well known, nationwide one) and other investments SOLD all his gold the moment the Scottish cnut ANNOUNCED he was going to sell. He put his money into LIBOR (not guaranteed of course) and then when the pratt actually sold the UK's gold my friend bought it back at $251 / oz. It is now approximately $1,650 / oz and he sits on a £59M gold nest egg.

Gold was also my best investment: 25.6% annualised return, then I had to sell to buy my casa in Uruguay.

Not for the fainthearted though: my wife thought I was mad until I showed her the speadsheet. :o)
Feb 18th, 2012 - 02:30 pm - Link - Report abuse 0
-+
briton
thanks for that .
Feb 18th, 2012 - 07:39 pm - Link - Report abuse 0
-+
Fido Dido
“Gold was also my best investment: 25.6% annualised return, then I had to sell to buy my casa in Uruguay.”

In that case you did the right thing for you and your wife. If you are in the UK or in mainland Europe, the stupiest thing to do is selling your gold for worthless pounds/euro's, since they continue to print like crazy (qe1, qe2, qe3 etc etc) to bailout their buddies at the bank at the cost of the people (inflation). Gold and Silver are investments for protection against inflation or you can read like this, the higher the gold and silver price are signs that fiat currencies are in trouble.
Feb 19th, 2012 - 09:28 pm - Link - Report abuse 0
-+
ChrisR
9 Fido Dido

First time you have made any sense. :o)
Feb 20th, 2012 - 12:34 am - Link - Report abuse 0
-+

Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!