Gold demand trends Q1 2014
Duncan Richardson, News Editor
20 May 2014, 10:34 a.m.
World gold demand remained more or less unchanged in Q1 when compared to the same period last year. According to the World Gold Councils (WGC) latest report overall gold demand in Q1 reached 1,072.2 tonnes.
Jewellery demand in the first 3 months of the year rose by 3% to 571 tonnes, the largest quarterly reading since 2005. China’s gold jewellery demand rose by an impressive 18 tonnes in the first quarter.
Technology demand slipped by 4% as manufacturers switched to cheaper alternatives in an attempt to reduce costs.
Central bank demand reached over 122 tonnes in the first quarter as they continue to diversify their holdings.
Overall gold supply increased by 1% to 1,048 tonnes with mine production offsetting a fall in recycled gold.
Overall investment demand decreased by 6 tonnes when compared to Q1 2013. Outflows from exchange traded funds slowed dramatically and bar and coin demand decreased.