Global gold demand falls in 2012
Global demand for gold fell last year in its first tumble since 2009 as demand in leading market India slid, narrowing the gap with secondbiggest buyer China, the World Gold Council said Thursday http://www.spaceracoons.com.
Demand for the precious metal was 4,405.5 tonnes for the full year, down 3 chan luu wrap bracelet.85 percent from 4,582.3 tonnes a year earlier, the WGC report said.
World jewellery demand, which accounts for 44 percent of total demand, slid by three percent in 2012 to 1,908.1 tons, hit by softer appetite in the first half of 2012, the data showed windows product key.
The team of WGC analysts, who prepared the report lululemon online, forecast that gold jewellery demand could soften in 2013 in volume terms http://www.ansaricapital.com.
But investment demand is likely to exceed historical averages due to its role "as a store of wealth", the report added.
In the OctobertoDecember quarter, global gold demand rose only four percent yearonyear to 1,195 hermes bracelet replica.9 tonnes, worth an estimated value of $66 chan luu wrap bracelet.2 billion, WGC said office 2010 key.
Demand for gold in India, the world's largest consumer and importer of the yellow metal, improved in the last quarter after being sluggish in previous quarters monster beats.
India's fourthquarter gold demand jumped 41 percent to 261 lululemon sale.9 tonnes from a year earlier but in China it climbed just 1.45 percent to 202.5 tonnes, due to "the effects of slowdown in the domestic economy casque beats," the report showed.
"The Indian market thrived during the wedding season and festive fourth quarter period," WGC said. Indian gold purchases traditionally spike during the religious festival and wedding season.
In addition http://www.valdostahurt.com, bullion dealers stocked up, fearing a hike in the import duty on gold by the Indian government.
Last month, India raised the duty on the precious metal by 50 percent to six percent after doubling it in 2012.
India has been seeking to deter vast gold imports that are one of the main contributors to the deficit in the current account, the broadest measure of trade.
The deficit hit a record $22.3 billion, or 5.4 percent of GDP, in the JulySeptember quarter, as imports outpaced exports.
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