India and China drive the demand for gold, despite the prices at the highest. "Macroeconomic uncertainty, the ongoing sovereign debt crisis and inflationary pressures should ensure that demand for gold remains strong," said Marcus Grubb, managing director of the World Gold Council.
According to today's WGC estimates, purchases in China and India rose by 25% in the second quarter of 2011. India, in particular, is the world's largest importer of gold (covering a third of global demand) and between January and June bought 540 tons (+21% compared to the same period in 2010).
The data released by the World Gold Council show that the second quarter of 2011 marked, despite the increases, an increase in consumption of 4,6%: equal to 44,5 billion dollars, just below the 44,7 billion reached in the last quarter 2010.
