Gold Demand Tumbles 15% in 2013 as ETF Selling Sinks Market
World Gold Council managing director of investment Will Rhind doesn't expect the 2013 pace of ETF selling to continue into 2014.
Gold demand tumbles 15% in 2013 due to ETF selling and a slow in central bank purchasing, the World Gold Council reports. When asked why central banks wouldn't buy more gold after the price dropped 28% during the year, World Gold Council managing director of investment Will Rhind tells TheStreet's Joe Deaux central banks don't time markets, they purchase based on what's good for monetary policy. Rhind says he doesn't expect the 2013 pace of ETF selling to continue into 2014.
