Gold demand dips in Q1
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The value of global gold demand dropped by 7 per cent to US$42.3 billion in the first quarter of this year, well below the five-year average of $51.55 billion, according to the latest data by World Gold Council.
Demand from the jewellery sector showed a decline by 9 per cent. Investment demand, involving exchange-traded funds (ETFs), also dropped by 2 per cent, particularly due to the lower demand for gold bars and coins.
In the first quarter, gold prices eased by 6 per cent from the same period last year, to average at US$1,218.5 an ounce.
In terms of volume, global gold demand dipped by 11 tonnes of 1 per cent to 1,079.3 tonnes in the first quarter of this year. Demand from the jewellery sector dropped 3 per cent year on year. Investment demand expanded by 4 per cent on year.
