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As gold demand comes down 18% globally for Q1, China and India are still buying like crazy

TheDailyEconomist  |

A slower pace of central bank buying helped push gold demand down 18% year-on-year in the first quarter, according to the World Gold Council.

Gold Demand Trends quarterly report showed global gold demand was 1,034.5 tonnes, with the year-on-year decline reflecting the strength of the first quarter of 2016 (which was the strongest ever first quarter). – Barrons

China’s demand for gold bars and coins soared 30 percent year-on-year to 105.9 metric tons in the first quarter of this year, the fourth strongest quarter on record, according to a report released by the World Gold Council on Thursday. Overall demand for gold in the Chinese market grew 8 percent year-on-year to 282.4 tons, making China the world’s top gold consumer, according to WGC data.

Global demand for gold in the quarter was 1,034.5 tons, an 18 percent year-on-year decrease from the record high level recorded for the first quarter of 2016. – China Post

Gold demand in India increased by 15 per cent during the first quarter of 2017 to 123.5 tonne, signalling a return of optimism in the industry, according to World Gold Council (WGC). The total gold demand in the country stood at 107.3 tonne in the January-March of 2016, impacted by jewellers’ strike over excise duty introduction. – India Times

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