Jewelry Sector Creates Multi-Year High Demand for Gold in Q2

(IDEX Online News) – The World Gold Council (WGC) reported a multi-year high in the jewelry sector as lower prices "generated a surge in demand from consumers."

The finding was part of the WGC's Gold Demand Trends (GDT) report on world-wide gold demand for the second quarter of 2013

Meanwhile, in the gold as an investment sector, there was record demand for gold bars and coins which offset by large net outflows from ETFs, resulting in a year-on-year decline in overall investment demand relative to the second quarter of 2012.

The technology sector saw marginal growth, with a 1-percent year-on-year increase being the first in two years.

Demand for gold from central banks slowed in the second quarter from record quarter last year, but still marked the tenth consecutive quarter of purchases.

Total gold supply shrank by 6 percent from the second quarter of 2012, "almost solely due to the reduction in recycling."