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Albert Sung is the author of Correlation Economics, monitoring breaking economic news on a day to day basis. He started investing in 2008 because of the economic crisis and holds a masters degree in chemical engineering. Previously, he worked several years as a process engineer at Ashland, a... More
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Correlation Economics
  • Chinese Lunar New Year Ends, Gold Demand Down? 0 comments
    Feb 22, 2014 7:44 PM | about stocks: GLD

    ... Absolutely not!

    People say that when the Chinese New Year ends (31 January), gold demand would come down.

    What do we see two weeks after Chinese New Year? A record amount of Chinese gold demand at 64 tonnes a week, that's 256 tonnes a month, above global mine supply.

    (click to enlarge)
    SGE Withdrawals (In Gold We Trust: Koos Jansen)

    I believe we could see an increase in gold demand when the price of gold rises. It seems counterintuitive, but the gold demand curve is not straight, it is curved (red graph below).

    We might see it happening right now.

    Stocks: GLD
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