Gold sales jumped 22.4 percent to a record $65.3 billion, reports Kevin DeMeritt of Lear Financial
Santa Monica, CA (PRWeb) April 2, 2007 -- The rapid growth of gold exchange traded funds means that Exchange Trade Funds (ETFs) have become the main driver of gold investment demand growth. At the end of last year, total gold stocks held by ETFs and other similar funds were worth around $13.3 billion.
Prospects for investment demand in the first half of 2007 remain robust making gold bullion and gold coins a sound investment according to top gold investment advisor Kevin DeMeritt of Lear Financial, the parent company of Gold Central one of the top gold coin companies in the United States.
Although spending on gold coins and gold jewelry reached a record $44 billion last year, high prices and volatility affected buying in Asia and the Middle East, mainly in the first eight months of last year.
However, gold prices surged in late October fueled by industrial, electronics and dental demand. The electronics sector reported particularly strong growth, helped by the increasing use of gold in consumer goods such as flat screen television panels and circuitry in mobile phones and MP3 music players.
Gold is a good conductor of both heat and electricity and is specified when performance in circuitry is crucial, such as for car air bags, which increasingly use gold-plated circuit contacts.Gold is being used in a new range of industrial and medical applications, including nano-technology, which are still in research or early production stages, but which could have an impact on demand in years to come.
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