Physical Gold Buying “Continues on Dips”

THE WORLD'S MAJOR physical consumer markets continue Buying Gold on dips in the price, according to a global dealer's chief analyst.

Writing in Standard Bank's Commodities Daily, Walter de Wet says that “gold buying appetite” declined as prices rose back above $1400 per ounce at the start of December, but “selling activity” hasn't increased – making for a positive net demand.

“For a while we've been expecting the physical market to slowly adjust to the higher Gold Price,” de Wet writes. “As in the past, the adjustment [now] appears to be in progress, and the physical market seems to see a 'higher low' in the price as a gold buying opportunity.”

Similarly, the physical and especially Asian jewelry markets now need a 'higher high' to “entice selling and scrap flows to the market.”

Looking ahead, de Wet notes that India's wedding season (ending mid-Dec.) will be followed by Christmas shopping in the West, and then by China's busiest season for Buying Gold – the New Year starting on Feb. 3rd.

“We are growing in confidence that physical gold demand continues to prevail on dips,” he concludes.

Buying Gold for investment today? Cut out the middleman and slash your costs – enjoying the very strongest physical security in Zurich, Switzerland for as little as $4 per month – at world-leader online, BullionVault...