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An outlook on determinants of physical gold demand in emerging and developed countries, 2000-20101

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Figure 1: Average annual gold prices 2000-2010
Figure 2: Physical gold consumption in the world, 2000-2010  (in tons)
Table 3: Gold demand estimation, full sample (2000-2010)
Table 4 reports estimation results for developing and developed country samples. Lagged demand  is an important factor having positive and statistically significant coefficients in both estimations

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