Tag: World Gold Council

UAE gold sales growth of 16% the first quarter to 25.4 tons

Gold sales volume grew in the UAE market by about 16% during the first quarter of this year to reach 25.4 tons, compared to 22 tons in the same period in 2013, an increase of 3.4 tons, according to the statistics of the World Gold Council.

According to official statistics issued by the Board according to the “Union” that the UAE topped the countries of the Middle East in the demand for gold during the first quarter of 2014 in the quantities and value, despite the decline in prices of the yellow metal, which is reflected in the value of gold sales, and there were differences in quantities from the nearest state «Saudi Arabia» by about 7.6 tons.

The value of gold sales in the country during the period from January to March of this year, 3.89 billion dirhams, compared with 4.23 billion dirhams, down 8% due to the decline in gold prices over the first three months of this year, and that continues even now .
According to the World Gold Council forecast to reach the value of gold sales during the current year, in the light of the results of the first quarter, about 12.7 billion dirhams, compared to 12.4 billion dirhams in 2013, a growth of 2%, while the expectation of the Council reaching gold sales volume in the year current to 80.9 tons compared to 63.9 tons in 2013, a growth of 26%.

Also recorded sales of jewelry in the busy markets of the state during the first quarter of this year, about 22.1 tons compared to 18.8 tons in the same quarter last year , a growth of 18% , while the value of sales in the period from January to March of this year 3 , 38 billion dirhams , compared with 3.62 billion dirhams during the same period last year, a decline of 7% .

The statistics showed that the World Gold Council, demand for gold in order to invest in the first quarter of the current year amounted to 3.3 tons, compared to 3.2 tons, a growth of 5% , while sales fell in value to 504 million dirhams , compared with 574 million dirhams during the period of comparison.

According to the World Gold Council data sales growth of the yellow metal in the Middle East during the first quarter of 2014 by 16 % , to reach 66.2 tons , compared to 57.1 tons in the same quarter of last year, while the value recorded a decrease of 8% the decline prices globally , a drop from 2.99 billion dollars to 2.75 billion dollars .

The volume of sales of jewelry polished and processed in the region in the first quarter of this year, 54.6 tons compared to 48.3 tons in the corresponding period , a growth of 13 %, while the value fell between the periods of comparison by 10 % to 2.26 billion compared to $ 2.53 billion, while the total size of the demand for gold for investment in the region of 11.7 tons , compared with growth of 8.8 tons , 32% , and its value has grown by about 4% to 484 million dollars against 464 million dollars during the period of comparison .

May 25, 2014
India and China consumes 60% of world gold

In a statement to the Director of the World Gold Council in the Far East, Albert Zheng, said that China and India are the biggest consumers of gold in the world where in Atsthlakem up to 60% of the world’s gold.

Said Zheng, who was talking about mining a week on the Internet from Bullion Market Association in London (LBMA) conference in Rome, said that China is on track to consume at a record level of more than 1000 tons of gold by the end of this year.

In spite of the Indian gold consumption is set to be less this year than last year due to the import restrictions set by the government, and this is very important and it looks like being sustained.

Zheng said, adding that gold bullion has only become freely available to Chinese customers in the past ten years, of the total global demand for gold by year-end, he added, was expected to be 4,000 tons.

In addition to India to become the world’s largest consumer of gold, and China are also in the one meter and position as a gold producer, and in 2012, the country produced 342 tons of gold and consumes 840 tons, import 498 tons.

South Africa is the world’s largest producer of gold , with an output of 167 tons in 2012 , China consumed all the gold produced and imported additional quantity it requires from the international markets through the Shanghai Gold Exchange , the Chinese people love to buy gold , jewelry and gold and they do not tend to recycle as much gold as many other gold consuming countries , Chinese consumers have a choice of between 70000-100000 ports of retail gold.

Chinese banks have committed to importing gold for import permits from the country’s central bank , which gives them generously.
And obtain approval is a mere formality but not limited to the volume of imports , in contrast , the Indian government has increased the import duty on gold five-fold , from 1 % in January 2012 to 10 % currently , and increased import duty on gold jewelry to 15% from 10 % in September.

Recent conference LBMA, Zheng said , and stressed that investing in gold was firmly on the radar screens of investors, said that in the past few years , we have seen the financial crisis one after the other and people are worried , adding that he was admitted to gold again store the final value.

Bloomberg reported that sales of gold products , such as bars , by the China National Gold Group, the owner of the country ‘s largest deposits of the metal, rose 40 % in the first half of 2013.

China’s central bank said it would allow more banks to import and export gold and allow overseas companies more access to the gold trade.

And also to increase the holdings of the country’s gold official from the current 1.540 reserves, which are seen as inadequate, compared with 8.133 in U.S. custody and 3.408 from Germany, and gold accounts versus 1.6% of the total reserves held by the Bank people in China.

October 4, 2013
Gold could stimulate the production of clean energy and drinking water

World Gold Council said , gold jewelry that is saved in the coffers of the Bank, will be increasingly used to increase energy production and clean water to drink.

Trevor casual, head of technology at the World Gold Council, said in an interview that the properties of the metal has the ability to improve the efficiency of solar cells, and improve the performance of fuel cells and remove impurities from the water. He is already the use of gold in some catalytic converters to reduce pollution from cars.

The greater the demand for energy and water drains global resources, utilities, and manufacturers are looking for ways to save the situation both through the introduction of new technologies and gold, which is corrosion resistant and highly conductive, and can be used as a catalyst to improve the efficiency of processes such as water purification.

People say automatically gold is very expensive to use these techniques in research, but this is not true in fact, said agent in London if you want to use in a small amount enough, and that brings you the benefit is large enough, and it’s always going to be useful to use.

Gold is currently cheaper than platinum, which is used in similar applications. The price of gold, which is considered a haven in times of economic turmoil, fell more than 20% this year after he began to promote global growth.

Can in the metal nanoparticles detect and remove pesticides and heavy metals from drinking water, according to the casual. Said we are now at a point where we’re going to see more and more operations commercially in this sector, “he said. “It’s driven by the desire for a more effective in cleaning up pollution, using the best materials for the job.

Particles can also help convert solar energy into electricity, according to the World Gold Council, based in London, which has invested in the technology of solar PV Co. Oxford in fuel cells, and they can improve the electrical conductivity, said casual, citing Ford Motor Co. ‘s the use of gold-based coating for devices, which produce electricity from a chemical reaction

October 4, 2013