Global Gold Demand Soars – World Gold Council Reports Otherwise

As Global Gold Demand Soars, the World Gold Council Reports a 12% Decline in Global Gold Demand in the Second Quarter of 2015.

Official Government Gold Import and Independent Sales Data Seemingly Contradict the World Gold Council Report.

Does the World Gold Council report capture the true nature of global gold demand?

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The World Gold Council Second Quarter 2015 Gold Demand Report

The World Gold Council (WGC), sponsor of the gold ETF, SPDR Gold Shares (GLD) and owner of a minority stake in Bullion Vault through an investment via WGC member Lord Rothchild’s RIT Capital partners , recently reported second quarter gold demand as down 12% year over year to a six year low.

The World Gold Council report has been reproduced by FT, Bloomberg , Reuters and other financial news outlets.

Nick Laird of Sharelynx questions the WGC second quarter gold demand report and writes :

Over seven of the last nine months demand has been greater than production. Import demand has never been higher – ever. The statistics for these charts (below) are from from the respective countries own imports – they are gross numbers. These are genuine stats from the various countries respective governments. Seems to me that the WGC are not doing their job.!!! Why are they not promoting gold but rather hiding how strong demand is??? One must ponder this question?”

Mr. Laird provides these two charts as evidence of strong global gold demand:

chinidia gold demand may 2015

russia india china turkey may 2015

Mr.Laird’s charts show gold imports through May. The WGC report covers April-June. Global gold demand, however, strengthened in June from the United States to Asia and has ramped up significantly since then.

Here is a further survey of global gold demand.


Withdrawals on the Shanghai Gold Exchange are running 34% higher than last year and at a record pace:

sge week 30 july 31 2015

The Wall Street Journal takes note of increase in July Chinese gold sales.


Indian Gold Imports up 61% April-June

india gold imports 2014-2015 may


Russia added 800,000 ounces of gold to its reserves in June.

Russian gold reserves in Tons 2015


Gold Sales Up 50% in Malaysia.

United States:

One ounce American Gold Eagle coin sales were up 456% year over year in July.

july american gold eagle sales one ounce july 30 2015

The U.S. Mint set a July gold sales record and sold more gold in July than in the entire second quarter which included a strong June.

us mint american gold eagle sales 2015 2nd quarter and july


Perth Mint Gold sales were up 29% in July year over year.

Perth mint gold sales july 2014-2015


Gold demand up three to four times.

South Korea:

South Korea is on pace for record gold demand in 2015.

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Further Reading:

Gold Continues its Journey From West To East

Shanghai Gold Exchange vs Comex Gold Deliveries

Gold ETF Holdings vs the Shanghai Gold Exchange

China and Gold

India and Gold

Russia and Gold

Gold and Silver Price Manipulation – Suspected

Gold and Silver Price Manipulation – Actual

Gold Reserves by Country – Top Twenty

Gold Moves West to East Part 1

Gold Moves West to East Part 2

Gold ETF Holdings on the Rise

Chinese vs. United States Gold Demand

Chinese Gold Production

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