Skip to content
Subscriber Only

Gold Demand Falls 16% as Jewelry Purchases Decline 30%

Gold demand fell 16 percent in the second quarter, led by declines in India and China, the World Gold Council said.

Global demand slipped to 963.8 metric tons from 1,148.3 tons a year earlier as jewelry purchases fell to the lowest since the fourth quarter of 2012, the London-based council said today in a report. China fell behind India as the largest consumer, with global jewelry buying dropping 30 percent and bar and coin demand down 56 percent. Mining companies hedged 50 tons as they continued selling future output.