Global gold demand in the second quarter of 2012 has fallen by 7% to 990T, lowest in more than two years, reports CNBC-TV18 quoting World Gold Council. While, demand from India tumbled 38% in the second quarter to 181.3 T, that of China fell 7%. Gold investment demand fell 23% in Q2 to 302T, the council said.
World Gold Council also predicts a fall in Indian gold demand to 650-750 T in 2012 and China is set to take over as no.1 consumer with 850 T of demand.
Central bank's gold purchases in the second quarter has more than doubled to 157.5t with expecttaions of a record buying in 2012.
Moneycontrol news
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