RESEARCH AND ANALYSIS
Gold demand in China and India, the worldâs biggest consumers, fell in Q1 2014 compared to the previous year's record levels, the World Gold Council said today.
Consumer gold demand in China fell 18 percent to 263.2 tonnes (t), with Chinese demand for gold coins and bars down 55% to 60t in Q1, the industry group said in its latest quarterly Demand Trends report.
Consumer demand in India fell 26% to 190.3t, with Indian investment in bars and coins down 54% to 44.7t. Local duty and restrictions on gold imports were among the factors dampening purchases, it said.
Globally, demand for jewellery totalled 571t in Q1 2014, a 3% rise on the same period last year. Gold buying by central banks fell 6% compared to Q1 2013, while outflows from gold-backed Exchange Traded Funds(ETFs) slowed to just 0.2t, compared to the more substantial fall of 177t seen a year earlier.
Overall gold consumption was 1,074t, almost unchanged compared to the same period in 2013, signalling a return to long term average patterns of demand, the World Gold Council said.
Download Gold Demand Trends First Quarter 2014 [pdf 1.8 mb]
