Demand for gold all over the world was 990 tons on a global level, the lowest level in the last two years, amounting to 51.2 billion dollars, according to a report of the World Gold Council. Compared to the previous quarter, demand was 10% lower, whereas compared to last year's similar period, it fell 7%, in terms of volume, according to the report. In terms of value, demand marginally fell compared to Q2 2011. In the first semester, demand for gold, reached 2,091 tons, 5% below the level seen during that period.
Gold purchases for making jewels fell 15% between June 2011 and June 2012, to 418.3 tons. The decline was almost generalized, caused predominantly by prices being higher than in the second quarter of 2011. The market which accounted for most of the drop was that of India, where the price decrease was abrupt, as the price of gold reached the record level of 30,000 rupees for ten grams, the Gold Council says. The jewelry segment generated 42% of the demand for gold in the second quarter.
Gold demand for jewelry production reached 906.4 tons in the first half of the year, down 13% over last year's similar period.
Demand in the second quarter was 21.6 billion dollars, 9% lower YOY.
The technology sector generated a demand for gold 5% lower compared to the second quarter of 2011. The value of demand was 5.8 billion dollars. Compared to the previous quarter, the recorded growth was 3%.
Demand for gold was constrained by a combination of factors, such as the escalation of problems in Europe, with Spain being the focus of attention, the tepid reduction of unemployment in the United States, as well as the slowdown of the Chinese economy, which have affected consumer confidence, the representatives of the Global Gold Council explained.
All the technological segments have seen a drop between June 2011 and June 2012. Demand for the
