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Gold Investing News reports the advantages of holding gold. According to World Gold Council’s ‘Gold Demand Trends’, identifiable gold demand in tonnage terms rose 4 per cent on previous year levels to 3,569 tonnes. As shares on stock markets around the world lost an estimated $14 trillion in value, identifiable investment demand for gold, which …
Gold Investing News reports the advantages of holding gold.
According to World Gold Council’s ‘Gold Demand Trends’, identifiable gold demand in tonnage terms rose 4 per cent on previous year levels to 3,569 tonnes. As shares on stock markets around the world lost an estimated $14 trillion in value, identifiable investment demand for gold, which incorporates exchange traded funds (ETFs), gold bars and gold coins, was 64 per cent higher in 2008 than in 2007, equivalent to an additional inflow of US$ 15 billion. Over the year as a whole, the gold price averaged $872, up 25 per cent from $695 in 2007.
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