Whilst the West becomes complacent about gold, China, India and central banks will buy 90% of all gold that's produced during 2014
Whilst the West becomes complacent about gold, China, India and central banks will buy 90% of all gold that's produced during 2014. This is an amazing statistic supplied by ETFS Securities - and it underlines Asia's enduing love affair with gold, despite apathy amongst Western investors. But it shouldn't be too surprising, as data for 2013 showed a similar pattern - as China, India and the world's central banks absorbed more than 80% of global mine supply.
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Gavin has been a senior resources analyst following the mining and energy sectors for the past 25 years, working with Intersuisse and Fat Prophets. He is also the Executive Director, Mining & Metals with Independent Investment Research (IIR).
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