Study from the World Gold Council shows that gold demand has slided 16 per cent for the second quarter results, global gold demand sitting at 964 tonnes. Gold demand was at $40 billion, which is down 24 per cent. Global jewellery demand, on the other hand, was down 30 per cent from last year.
“Jewellery consumers continued to digest the exceptional purchases of 2013 and investors also rebalanced, pulling back from the extremes we saw last year,” says Marcus Grubb, managing director of investment strategy for the World Gold Council. “Overall the gold market is stabilising following the extraordinary conditions we saw in 2013.”
Standing at the forefront of the global jewellery market were India and Chine once again, with 154t and 143t purchases. The Western market showed improvement with a demand rise of 15 per cent in the U.S. and 21 per cent in the U.K. CJ