By Jan Harvey
Reuters
LONDON — Global gold demand fell in the second quarter, the World Gold Council said on Thursday, as a plunge in jewellery, coin and bar sales from last year’s record levels outweighed lower liquidation of gold-backed exchange-traded funds.
Demand fell 16 percent in the April to June period to 964 tonnes, with jewellery offtake, the largest single segment of gold demand, down 30 percent, while coin and bar buying tumbled 56 percent.
Selling from gold-backed ETFs, which helped balance the market during last year’s buying frenzy, eased off to 39.9 tonnes however, from 402.2 tonnes in the second quarter of 2013. Demand for physical gold surged in that period after gold prices slid by nearly a quarter.