Data released by the World Gold Council (WGC) shows that global gold demand in the first quarter of 2017 totaled 1,034.5 tonnes – 18% decline year-on-year. The WGC noted that the number “suffers from the comparison with Q1 2016, which was the strongest ever first quarter”.
According to the report, “Inflows into gold-backed ETFs of 109.1 tonnes were concentrated in Europe” and “European-listed products were the most popular, due to continued political uncertainty in the region”.
Investment in gold bars and coins grew by 9% year-on-year, led by China. First quarter jewelry demand was steady at 480.9, “but global jewelry demand remains relatively weak in a historical context”.
