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Global demand for gold fell to a 10-year low

in Industry News by

According to the World Gold Council, the demand for gold in the first quarter of 2018 was the lowest for this period in the last decade.

Indicator in January-March decreased by 7% compared to the same period in 2017. It was 973,5 tons, the lowest since 2008. Experts attribute the stagnation of demand with relative price stability that has been at the narrowest quarterly range for more than 10 years.

The main decline in demand fell on the investment segment, where the consumption of bars and coins fell by 15%, and the flow of metal to the exchange-traded index funds collapsed by 70% in the annual comparison. Jewelry demand decreased by 1%.

India, the second largest world market witnessed a decrease in jewelry sales by 12%, well below 88 t. WGC believes that such dynamics is caused also by the expectation of investors of bets raise by the Federal reserve system of the USA. In this regard, investors stopped considering gold as the most profitable asset and began to look for more profitable investments.

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