Global gold demand may rise 15% in 2015 on Asia, ETP buys: HSBC

Singapore

GOLD demand will rebound in 2015 as bullion consumption in Asia increases and investors return to exchange-traded products (ETPs) backed by the metal, according to HSBC Securities (USA) Inc.

Global demand may rise 15 per cent to 4,127 tonnes this year, analysts James Steel and Howard Wen wrote in a report dated Jan 14.

Consumption reached a record 4,582.3 tonnes in 2011, when prices climbed to a peak of US$1,921.17 an ounce (28 grams), according to data from the World Gold Council.

Gold last year posted the first back-to-back annual drop since 2000 as assets in bullion-backed ETPs contracted, the dollar advanced and US equities …