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Gold demand slid to eight-year low in 2017: World Gold Council

Investment demand fell by nearly a quarter, driven by reduced inflows into bullion-backed exchange traded funds, the gold mining industry-funded WGC said.

Reuters  |  LONDON 

 A late rally in physical gold buying failed to prevent a drop in full-year demand last year to its lowest since 2009, the World Gold Council said on Tuesday, as weaker fund investment outstripped a bump in jewellery consumption. Global gold demand slid 7 percent in 2017 to 4,071.7 tonnes, an eight-year low, the WGC said in it latest quarterly demand trends report. Investment demand fell by nearly a quarter, driven by reduced inflows into bullion-backed exchange traded funds, the gold mining industry-funded WGC said. While gold prices rose last year on the back of dollar ...

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First Published: Tue, February 06 2018. 11:33 IST
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