[miningmx.com] – JEWELLERY sales kept demand for gold in the first quarter steady offsetting the effects of a heavy sell-off in gold invesment, said Bloomberg News citing the comments of a report by the World Gold Council.
Global demand fell to 1,074.5 tons in the quarter, from 1,077.2 tons a year earlier, said the newswire agency. Demand for jewellery increased 10% in China while investment demand slid 39% year-on-year mostly owing to liquidations of gold-backed exchange traded products.
“We’re now in a lower price environment than we were two years ago, so for many people, jewellery has become more affordable,’ Alistair Hewitt, manager, market intelligence at the World Gold Council in London told Bloomberg News.
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