WGC: Huge demand for physical gold has more than countered ETF sales

``the World Gold Council's Managing Director of Investment, Marcus Grubb... points out that the big outflows from global gold ETFs so far this year, which he reckoned to have been some 600 tonnes, have been more than countered in the first half of the year by enormous demand for physical gold, particularly from China and India (despite the latter's clampdown on gold imports).''