Dressed to the nines with gold

In the third quarter, gold jewelry demand was at the highest level since 2010. Buying out of love in the East was significantly higher during the first nine months of the year compared to demand the same time last year, according to the World Gold Council (WGC). As the chart link below shows, buyers in Hong Kong andChina went on a shopping spree for gold jewelry, as demand rose 40 percent and 35 percent, respectively, on a year-to-date basis in 2013 compared to the same period last year.

Another way to look at the strong demand coming from the East is to compare it to Western demand. As you can see below, so far in 2013, the East purchased 5 times more gold bars, coins and jewelry than the West. Together, Chindia purchased a whopping 1,500 tonnes in physical gold in nine months.

Read More: www.mining.com/web/dressed-to-the-nines-with-gold/