29% of gold is used for investment; 59% for jewelery

[IDefendThePlatform]

29% seems low to me. I don't think they're counting the gold in bank vaults maybe. If that 29% demand went away, what do you think would happen to the price? Obviously greater than 29% drop I would think.


http://www.goldfacts.org/en/faqs/#q_how_big_is_the_investment_market_for_gold

 

[oyarde]

I do not think investment gold could be accurately calculated ? In India , most gold is in Jewelry and considered investment , some of that goes on in China .....

 

[oyarde]

In the future , I suspect Tech gold would at least remain the same or rise slightly and for investment gold to rise as well ....

 

[IDefendThePlatform]

I do not think investment gold could be accurately calculated ? In India , most gold is in Jewelry and considered investment , some of that goes on in China .....

So you're thinking the % of gold that is pure "investment" is actually even lower than 29%? But that you believe it will increase in the future. I agree that the investment % will probably increase in the future as fiat problems become more apparent, driving the price up.

 

[Arklatex]

Gold Jewelry is important. Us the Common man aren't allowed to understand the metaphysical effects of gold in your Aura. For instance look at what Edgar Cayce has said about crystals and Gold, the highest evolution of metal and diamond the highest evolution of Carbon. Thus they have effects on your body, mind, and spirit.

 

[NoOneButPaul]

So you're thinking the % of gold that is pure "investment" is actually even lower than 29%? But that you believe it will increase in the future. I agree that the investment % will probably increase in the future as fiat problems become more apparent, driving the price up.

China hasn't reported their total gold holdings since like 2009 so these world wide gold numbers are really hard to give an credence to whether they are bullish or bearish...

 

[oyarde]

Gold Jewelry is important. Us the Common man aren't allowed to understand the metaphysical effects of gold in your Aura. For instance look at what Edgar Cayce has said about crystals and Gold, the highest evolution of metal and diamond the highest evolution of Carbon. Thus they have effects on your body, mind, and spirit.

I was once a member of The Association for Research and Enlightenment .I used to donate a bit to the University . I find him to probably be the most interesting man of his time that I have never meet . I have been to his hometown , several times , just did not know about him then .....

 

[Zippyjuan]

China hasn't reported their total gold holdings since like 2009 so these world wide gold numbers are really hard to give an credence to whether they are bullish or bearish...

Figures on China's holdings are all speculation since they don't announce them but they have said that all of their government holdings have come from domestic production which means they have been aquiring gold which was never really on the market (and so won't impact the global price of gold).

 

[oyarde]

Figures on China's holdings are all speculation since they don't announce them but they have said that all of their government holdings have come from domestic production which means they have been aquiring gold which was never really on the market (and so won't impact the global price of gold).

Not sure I believe it all comes from domestic production .......

 

[Zippyjuan]

http://www.shanghaidaily.com/busine...oubled-gold-reserve-expert-says/shdaily.shtml

The People’s Bank of China has not reported any increase in official gold holdings since 2009, when the central bank said the official reserve was at 1,054 tons, which accounted for only about 1 percent of its multi-trillion foreign exchange reserves.

The PBOC has been “surreptitiously” adding to its official gold reserves. It has bought a total of 654 tons in 2009 through 2011, another 388 tons in 2012, and more than 622 tons last year, mostly from domestic mine production and secondary supplies, Nichols said in a commentary posted on NicholsOnGold.com yesterday.

Central bank purchases comprise the smallest fraction of global gold demand — less than 10 percent.

“If China announces an increase in gold reserves, there would be an immediate drag-up force in the gold market,” Albert Cheng, managing director of the industrial association World Gold Council for the Far East, told Shanghai Daily.

China is the biggest gold consumer and producer in the world.

Note that the amounts of their reserves is purely speculation as is the source of those reserves since China doesn't release official figures.

 

[oyarde]

Well . , I did some gold speculating today , bought an 1856 California gold 1/2 dollar that was a former jewelry pc ( tiny solder spot on the reverse ) , then made into a jewelry pc again with a double gold loop attached to the top . Figured I would gift it to one of the Grand Daughters . I gave $17 bucks for it. She will do better than that with it someday , I imagine.

 

[eric_cartman]

i think those percentages are based off the yearly mining supply. most of the gold has already been mined and my guess is that the majority of the gold out there is sitting in vaults for investment purposes.