Gold Council is expected to continue rising prices

Gold Council is expected to continue rising prices

World Gold Council said that the demand for gold is expected to continue well driven by purchases from several geographic regions and economic sectors around the world. The council said in a report posted on its Web site, that the demand for gold will increase during the remainder of this year, driven by social and economic factors prevalent in the world, inciting to invest in gold and include concern about the prevailing weakness of the U.S. dollar. He explained that the sovereign debt crisis Although European and pressures resulting from the persistent inflation in the prices of goods, in addition to political tensions in the Middle East are all factors point to the persistence of investors in gold as a final safe, pointing out that the continued demand for the Chinese and the Indian goldsmiths continued growth in this sector over 2011. And the transfer of the Council on the Managing Director of Investment, World Gold Council Marcos pod, saying that the flexibility that characterized the gold during the recent volatility in commodity markets is an example of the power of the yellow metal and drives demand for the unique enjoy it, pointing out that strong demand in India and China for gold once again confirmed expectations that continually increasing demand during the coming period. The pod that the size of the total demand for gold was about 981 tons during the first quarter of this year, an increase of 11% over the same period of last year the value reached to 43 billion U.S. dollars, a reference to the vast increase in demand for bullion and gold coins. The report added that the World Gold Council quarterly average prices for an ounce of gold were valued at a new record level in 1386 dollars, although the price for a period early in the first quarter, but that he has achieved new record levels in April and May of this year. And the Board, that the investment demand for gold rose about 26% to record 310 tons in the first quarter of 2011 compared to 245 tons in the first quarter of 2010. The outflows of investment funds and other similar products amounted to 2.5 billion dollars for gold in the world market, where recovery operations were concentrated in the month of January, and in this way maintained the value of trading funds exceeded $ 95 billion U.S. dollars during the first quarter of 2011. He pointed out that the gains of gold have risen 7% in the first quarter of 2011 from their levels in the same period of last year to record the value of a quarterly record $ 24.8 billion. And industrial demand, the report said remained stable during the first quarter at a level of 113 tons valued at $ 1.5 billion as data showing the fourth quarter of 2010 it recorded the highest level of demand for gold for industrial purposes, the equivalent of about $ 13 billion. According to the report, that the central bank purchases have jumped during the first quarter of 2011 to 129 tonnes of gold to purchase more than three seasons of 2010 combined.