%0 Journal Article %A Haim A. Mozes %A Serge Cooks %T The Disconnect Between Physical Gold Demand and Gold Prices %D 2013 %R 10.3905/jwm.2013.16.3.112 %J The Journal of Wealth Management %P 112-121 %V 16 %N 3 %X This article provides empirical evidence that the drivers of physical gold demand are different from the drivers of gold prices and concludes that increasing physical gold demand does not imply higher gold prices. Accordingly, one should not expect rising gold demand from emerging market countries to support gold markets and to lead to a recovery in gold prices back to the recent highs.TOPICS: Commodities, emerging, performance measurement %U https://jwm.pm-research.com/content/iijwealthmgmt/16/3/112.full.pdf