Global gold demand remains robust as seen in the latest quarterly figures from the World Gold Council released yesterday. Q1, 2015 gold demand was just 1 percent lower year on year but was 3 percent higher quarter on quarter due to a surge in investment demand which was 4 percent higher year on year and a whopping 63 percent surge in investment demand quarter on quarter.
European investors increased their purchases of gold during the first quarter according to the report. Increase in demand was highest in Germany while investors in France, Switzerland and Austria also showed strong interest in acquiring the precious metal, with “double digit” increases in demand.
The WGC says that German demand for gold coins and bars “spiked” by 20 percent in the first quarter of 2015 compared to the same period last year.
CNN reported that it is unusual that there should be such strong demand out of Germany given the strength of the economy.