The gold rush is over, despite the highs reached by the prices of the precious metal in the last few days as a temporary response to the stock market turmoil. It is the last to sanction it World Gold Council (CMO) report, which shows that global demand for the precious metal par excellence has never been so low in six years now: -12% in the second quarter of this year alone, with less than a thousand tons requested (915 to be precise).
To determine the end of the primacy as a safe haven is above all the preference of savers for other forms of investment, in particular the stock market, which is increasingly interesting compared to commodities, whose flows - in particular that of the gold metal - have tended to decrease. But above all, Asia, in particular, is still involved in the decline in gold China and India.
The CMO noted that demand in the world's two largest gold consumers fell markedly, by about half, between April and June this year. Circumstance due, as far as Beijing is concerned, at stock market turmoil, while in the former English colony the torrential rains first and then the anomalous drought undermined the impressive turnover of agriculture, thus causing a drop in jewelry purchases (by 23% in the second quarter).
also the central banks have said goodbye to the precious metal, reducing purchases by 11% in the last year, to a total of 137 tons. Even the Chinese central bank, which has also bought 600 tons since 2009, of which another twenty in July, has disappointed the experts' expectations: "China should have bought much more gold than Russia, for example", ruled Commerzbank.
