China‘s demand for gold jumped 20% in the first quarter of 2013, while global gold demand overall slid 13% with a dramatic change in demand from paper to physical. Chinese demand in gold more than doubled the five-year quarterly average of 43.8 tonnes. Central banks added to their reserves for the ninth consecutive quarter. But ETF outflows showed a 7% decline in total gold ETF holdings. This obscured the strong rise in investment for physical gold in the face of the huge ‘paper’ gold ETF outflows, ‘physical’ gold demand surged to its highest in 18 months… Gold down $8.40 @ USD$1387.70/oz, Silver slips 0.03cents to USD$22.61/oz and Oil surges 0.88 cents to USD$95.18/barrel. Euro dips below 1.2900/USD and C$ stable and firm around 0.9800 cents or 1.0200.

 

Note-movements based on previous days closing market prices.

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