Gold Demand Falls Due To Decrease In Consumer Appetite: WGC

Subscribe to GoodReturns
For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

    Gold demand fell this quarter when compared to the same period last year, due mainly to a decline in demand from consumers in India and China, the World Gold Council (WGC) said on Thursday.

    Overall jewellery demand was lower by 14% to 513t, from 595t in 2014 due to falls in consumer spending in Asia.

    Gold Demand Falls Due To Decrease In Consumer Appetite: WGC
     

    In China, slowing economic growth and a rallying stock market led to a 5% fall in demand to 174t.
    In India, the heavy unseasonal rains in Q1 and drought in Q2 impacted rural incomes and affected gold demand.

    In addition, a dearth of auspicious days for marriages in Q3 meant that wedding-related demand was unusually slow, leading to a fall in jewellery demand of 23% to 118t. Overall, if we look at the picture for the first half of this year in India, jewellery was down 3% to 268.8t from 276.1t (H1 2014), the WGC added.

     The US remained steady, with jewellery demand up for the sixth consecutive quarter by 2% (26t). In Europe demand was also up, with Germany up 7% and the UK and Spain both growing by 6%.

    Global investment demand was down 11% to 179t from 200t in Q2 2014. India was the main driver of the fall, down 30% to 37t, due to uncertain price expectations and a buoyant stock market, the WGC said.

    GoodReturns.in

    Read more about: wgc gold investment
    Story first published: Thursday, August 13, 2015, 11:29 [IST]
    Company Search
    Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

    Find IFSC

    Get Latest News alerts from Goodreturns

    We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more