http://seekingalpha.com/article/192561-gold-demand-not-what-you-think

By Julian Murdoch

Last Friday, gold closed up 1.5 percent for the week to end at $1135.20/oz, thanks to a U.S. dollar that couldn't decide if it was strengthening or weakening. Of course, whether the gains continue remains to be seen, but for gold bugs, it seems one thing is certain: Gold demand has never been higher.

Or has it?

Last month, the World Gold Council released its annual supply and demand report on the yellow metal, and it revealed more than a few surprises.

2009: A Down Year For Demand

In reality, total gold demand actually fell in 2009, down 11 percent year-over-year. But due to the higher average price per ounce in 2009, the dollar value of gold demand remained roughly the same.

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