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Global demand for gold up by 12%
Posted on: 18/May/2013 10:21:53 AM
Demand for gold jewellery went up by almost 12 per cent in the first quarter of 2013, according to reports. A report from the World Gold Council Gold Demand Trends said, ‘Overall total global demand for gold during the quarter was 963 tonnes, down 19% from the fourth quarter of 2012. Total demand in India was 257 tonnes, up 27% on the same quarter last year. Retail investment was up 52% while jewellery was up 15% on the first quarter last year… Jewellery demand in China was up 19% at 185 tonnes compared with last year. Demand in both India and the Middle East was up 15% respectively and in the US, demand showed a significant increase, 6%, for the first time since 2005.
‘Globally, bar investment was up 8% while official coins (such as American Eagles and Canadian Maple Leafs) were up 18%. Gold held by gold-backed ETFs, which in 2012 accounted for 6% of the world`s gold demand, fell by 177 tonnes.’
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