Investment in gold bullion and coins at all-time high says report

| February 24, 2014 | 0 Comments

Global investment in gold bullion and coins is at an all-time high according to figures released by the World Gold Council. The Council is the market development organisation for the gold industry and considered to be the global authority on the precious metal and its uses. It is also the primary source of informed opinion about the industry. Figures in the Council’s annual Gold Demand Trends Report for 2013 show that total bar and coin demand surged to a new record of 1,645.1 tonnes, contrasting with outflows from ETFs (Exchange Traded Funds) of 880.8 tonnes. Other key statistics in the report showed that:

  • Annual gold demand was 3,756.1 tonnes, valued at US$170.4bn.
  • Central banks made healthy purchases of 368.6 tonnes, the fourth consecutive year of positive demand.
  • Annual gold supply declined by 2% to 4,339.9 tonnes as a decline in the supply of recycled gold outweighed an increase in gold mine production.

Ed Pearce, Managing Director of Douglas-based gold bullion depository and trading company IMGold, commented:

“The results from this report confirm what we have been experiencing in our first five months of business at IMGold – investors are increasingly turning to gold as a secure means to hold their wealth. With the price of gold still a long way from its 2011 high many are choosing to take advantage of its lower price. It’s an interesting time for the industry and the price is already up 9% from the end of 2013. We’re looking forward to a very busy and exciting year.”

IMGold was launched in October 2013 and is the trading name of Isle of Man Bullion Ltd which can buy, sell and store gold and silver bullion. Based in Victoria Street, Douglas, it has offices and below ground vaults which are electronically protected and monitored by G4S with security systems equalling or exceeding industry standards. For more information go to www.imgold.com or call +44 (0)1624 888 888.

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