Gold demand recorded a two-percent growth in 2016 to 4,308.7 tonnes, said a World Gold Council (WGC) report published on 3 February. The figure reflects a 3-year high. After 2009, the year also marked the second highest on record for exchange traded fund (ETFs) at 531.9 tonnes.
The reports says jewellery demand for gold saw a seven-year low at 2,041.6 tonnes, falling 15 percent year-on-year. “…regulatory and fiscal hurdles in India and China’s softening economy were key reasons for weakness in the sector,” said WGC.
The year closed with eight percent increase in gold prices, the report suggested.
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