There has been a steady migration of gold from West to East over the last three decades.
When the World Gold Council published its first Gold Demand Trends report 30 years ago, Asian demand made up 45% of the world’s total. Today, the Asian share of global gold demand is approaching 60%.
Gold is migrating from the West to the East.
As Bloomberg described it, many western investors – particularly at the institutional level – are dumping bullion. Meanwhile, Asian buyers are taking advantage of lower prices to snap up less expensive jewelry, coins, and bars.