Today the World Gold Council released their Q4 and full year 2011 data on the gold market.
"Global demand for gold in 2011 rose to 4,067.1 tonnes worth an estimated US$205.5 billion - the first time that global demand has exceeded US$200 billion and the highest tonnage level since 1997.
The main driver for this increase was the investment sector where annual demand was 1,640.7 tonnes up 5% on the previous record set in 2010 and with a value of US$82.9billion.
The pre-eminent markets for investment demand in 2011 were India, China and Europe. Central bank continued the trend established in 2010 of being net buyers of gold."
Managing Director Marcus Grubb says,"What is certain is the long-term fundamentals for gold remain strong, with a diverse and growing demand base, coupled with constrained supply side activity."
There you have it folks, nothing has changed. The fundamentals are the same and the trend is in tact. We're headed to $3,000 and beyond. BK
