Global Jewelry Demand Down 6% in 2019
In the fourth quarter of 2019, this figure decreased by 10% compared to the same period in 2018 to 584.5 tons. Reduced demand for jewelry, as well as for gold bullion contributed to a drop in demand for gold in October - December last year, experts say WGC. Thus, global demand for gold in the fourth quarter fell by 19% compared to the same period a year earlier, to 1,045 thousand tons, total consumer demand on an annualized basis - by 11.4%, to 825 tons.
Gold price in October - December last year averaged $ 1,481 thousand per ounce, which is the highest quarterly average since the first quarter of 2013, the WGC points out. "Gold prices in various currencies, including the euro, the Indian rupee and the Turkish lira, have reached the highest levels in history", the report says.