Recently, Thomson Reuters GFMS Gold Survey 2015 Q1 announced global gold consumption review and outlook, releasing that the world gold jewellery consumption fell by 6.7 percent year-on-year to 527 tonnes in Q1 2015, which is the lowest first quarter level since 2012, as price sensitive markets held off on purchases.
In China, 24-karat investment material experienced a decrease to 190.9 tonnes or 12.4 percent year-on-year decline; however, 18-karat material has performed better, seeing a growth between 20 to 30 percent. GFMS forecast that gold’s role in China’s economy will continue to grow.
Jewellery demand in India, the world’s second biggest market, increased two percent year-on-year to 148.5 tonnes in Q1 2015. Despite the first two months’ low purchasing, it was only during March when prices fell to their lowest level in four months that jewellery demand increased, negating earlier losses. GFMS expected that Indian gold jewellery consumption will recover from Q2 and for another impressive year of total gold sales.
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