In Q2 2014, the global demand for gold slid 16% compared to the last year. Total demand sank to 963.8 metric tons, the World Gold Council reports. The thing is that the appetite for this precious metal in jewelry industry flagged.
In value terms the world’s demand for gold fell 24% posting almost $40 billion. All in all, the demand among jewelers inched down 30% to 510 tons. The investment interest grew 4% to 235 tons.
In the second quarter of 2014, central banks boosted their gold purchases by 28% buying 118 tons. It is global regulators that have proven to be the active buyers of this precious metal for the last four years. The fact is that Banks are intended to diversify risks amid the geopolitical tensions, the report reads. The gold supply leapt 10% to 1.1 tons. The World Gold Council expects the indicator to hit its peak in 2014 and maintain this level for the coming 4-6 quarters.
