Total demand for gold during the second quarter of this year increased by 4 percent to 1258 tons compared to the same period of the previous year, becoming the highest quarter since 2000.
According to a report by the World Gold Council, demand for gold excluding the London Metal Exchange fell 6 percent year-on-year to 929 tons, as the sharp decline in jewelry consumption outweighed slight gains in all other sectors. According to the report, the record gold price environment weighed on jewelry consumption in the second quarter, with volumes down 19 percent year-on-year to a four-year low of 391 tons.
Source (Al Sharq Al-Awsat Newspaper, Edited)
