“China’s demand for gold jumped 20% to 294 tonnes in the first quarter of 2013, while global gold demand overall slid 13% thanks to the dramatic rotation of demand from paper to physical. Central banks added 109.2 tonnes of gold to their reserves in Q1 2013, the ninth consecutive quarter of net purchases. But it was the Q1 ETF outflows of 176.9 tonnes, equating to a 7% decline in total gold ETF holdings that obscured the strong rise in investment for gold bars and coins at the retail level. In the face of the huge ‘paper’ gold ETF outflows, ‘physical’ gold demand surged to its highest in 18 months.”
http://www.zerohedge.com/news/2013-05-16/gold-demand-one-chart-physical-vs-etf
Related posts:
Concealed Carry Maps: Gun Owners Have Won
500Mbps Internet over phone lines might solve fiber’s “last mile” problem
Congress Wants the IRS to Cancel Your Passport
Cyber thieves blamed for botnet Bitcoin heist: researchers
Civilian drone deaths triple in Afghanistan, UN agency finds
Chase Bank Limits Cash Withdrawals, Bans International Wire Transfers
How Prosecutors Hijacked Grand Juries
NSA spied on Italian leaders ‘from US diplomatic missions in Rome, Milan’
Developers Scramble to Build NSA-Proof Email
Mandatory TSA Pat Downs At Super Bowl
LOT Polish Airlines Now Accepts Bitcoin
Could Shapeshifting 'Material Support' Doctrine Take A Bite Out Of Apple?
Health Care Non-Insurance
Wendy McElroy: I Pledge Allegiance to PHRMA
Wi-Fi Trashcans Now Silently Tracking Your Smartphone Data