(Kitco News) – Total global gold demand in the second quarter fell 16% to 963.8 metric tons, versus 2013’s second quarter, the World Gold Council said Thursday. Gold demand in the second quarter 2013 was unusually strong because of the 25% price drop during April-June, which stoked a big jump in metal purchases.
Jewelry demand fell 30% in the second quarter; technology demand fell 3%, and total bar and coin demand was down 56% . Exchanged-traded funds saw outflows of 39.9 tons. However, total investment demand rose 4% year-over-year.
WGC said 2014 appears to be a year of “calm consolidation” versus last year, and they expect this to last, barring unforeseen events.
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Chart courtesy of kitco.com