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BullionVault’s Gold Investor Index dips in January following six months of gains


BullionVault’s Gold Investor Index, the world’s first indicator of retail-investor sentiment towards physical gold based on revealed preference, dipped in January to 54.9, following a steady month-to-month rise that began in July, and peaked at 58.3 in December 2012.

The downtrend signals a bearish shift in January among the survey of BullionVault’s 44,800 private investors in 159 countries, with USD2.2bn in stored bullion.

A reading of 50.0 would signal a perfect balance of buyers and sellers. The index peaked in September 2011 at 71.7.

The Gold Investor Index takes the balance of net buyers (who added to their holdings) versus net sellers over the last calendar month on BullionVault, the world’s largest provider of physical gold ownership to private investors. This gives a clear indication of how private households are reacting to economic and financial news by either buying, selling or continuing to hold gold. And because gold investment is often a barometer of consumer confidence and expectations, the index offers a useful guide to broader economic sentiment.

“Nearly two thirds of BullionVault’s users are in the US and UK, so the Index is heavily weighted by investor sentiment in these two major financial markets,” says Miguel Perez-Santalla, vice president of BullionVault. “With the US stock market at its highest level in years, and perceived job growth, personal gold investors are not rushing to buy as they were in the last half of 2012. Also the fast money loses interest as volatility decreases, as we have seen over the last few months as it dropped over 30 per cent. Still we have seen our customer inventories continue to grow by nearly a third of a ton in January.”

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