Australian Lunar
Gold Moves to Number One Bullion Product on Perth Mint Website
The Perth Mint has seen a record day for gold bullion sold via their website. They also comment on the developements of gold demand in the second quarter of 2011 released by the World Gold Council.
On Monday 8th August 2011 the Perth Mint Website had its biggest day since launching in October 2010, setting a record for the value of gold and silver bullion sold online.
In contrast to a few months ago when investors were piling into silver, gold is now accounting for more than 75% of the money invested in precious metals via the site.
Currently, nine out of their top ten selling bullion products by revenue are gold!
The record level of activity is testament to the robustness of the website and they state to be looking forward to serving even more online clients when the 2012 Australian Lunar Dragon gold and silver bullion coins will be issued on 1 September 2011.
Gold Demand Trends in the Second Quarter of 2011
According to the Perth Mint Bullion Website the World Gold Council has released its latest quarterly review for gold with the following results.
Assessing the second quarter of 2011 it said gold’s strong start to the year was reinforced during the period with gold demand measuring 919.8 tonnes, worth a near-record US$44.5bn, with broad-based support across all sectors and geographies. Standout markets were India and China, as these two markets accounted for 52% of total bar and coin investment and 55% of global jewellery demand.
Looking forward to the second half of 2011, the report said gold demand will remain strong owing to a number of key factors:
Despite a higher gold price, Indian and Chinese demand grew 38% and 25% respectively during Q2 2011 compared to the same period of 2010. This growth is likely to continue, due to increasing levels of economic prosperity, high levels of inflation and forthcoming key gold purchasing festivals.
The impact of the European sovereign debt crisis, the downgrading of US debt, inflationary pressures and the still-fragile outlook for economic growth in the West are all likely to drive high levels of investment demand for the foreseeable future.
Central banks are likely to remain net purchasers of gold. Purchases of 69.4 tonnes during Q2 2011 demonstrated that central banks are continuing to turn to gold to diversify their reserves.
About the Author
The Perth Mint is a well established Australian mint, which has been producing precious metals since 1899. The Perth Mint provides all kinds of investment types from gold bullion bars to silver, gold and platinum coins. More information on how to buy gold on the official website.
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