FRANCE saw positive net Gold Investment for the third year in a row in 2011, according to data released today by the World Gold Council.
Demand for Gold Bars and coins totaled 8.4 tonnes in 2011 – over six times the 2010 figure – the latest Gold Demand Trends report reveals.
The fourth quarter of the year accounted for 3.3 tonnes of this Gold Investment demand – compared to just 0.5 tonnes in Q4 2010.
"Demand during October rose to startling levels," the report says.
"[Demand was] at or near the highest monthly demand figure on record for France as the EU summit dominated headlines and a concurrent dip in the Gold Price provided an opportune entry point."
From its September peak, Gold Price in Euros fell by over 10% by the start of October.
"Demand from new entrants focused on small bars," the WGC says, "at the expense of Gold Coins, which have been the more traditional vehicle in this market.
The growth of French Gold Investment is notable because for many years France was a net dishoarder of gold before the global financial crisis hit.
German Gold Investment however continued to dominate that of its neighbor, with Germans buying 159.3 tonnes of coins and bars last year – a 26% increase on 2010.
To download the full Gold Demand Trends report, visit the World Gold Council's website.
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