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Global gold demand falls 7pct to 990 tons in Q2, 2012

Posted on 17 August 2012

Global gold demand has fallen 7% in Q2, 2012 to 990 tons from 1065.8 tons in Q2, 2011, according to the latest report of World Gold Council. This dip in demand was partly due to the comparison with exceptional demand last year, and also reflects the challenging global economic climate. In this context, gold performed as expected, acting as both a store of value and a source of liquidity.
In value terms gold demand remained relatively stable year on year at US$51.2 billion, compared to US$51.6 billion in Q2 2011. During the quarter, the average price of gold was US$1609.49 per ounce, 7% higher than the average for Q2 2011………………………………………..Full Article: Source

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VRS - who has written 38163 posts on Opalesque Commodities Briefing.


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