12-2-2018
In the Gold Demand Trends report for 2017, World Gold Council (WGC) reported the demand for gold jewellery in United States “continues to creep up, building on the base established in 2012”.
The gold jewellery demand was up 3 percent to 122 tons in 2017. An “encouraging economic environment stirred up a consumer sentiment improvement. Demand in the fourth quarter reached an eight years high. Despite the recovery, there is still a long way from the previous level, dating back to 2010, the demand was over 140 tons.
The worldwide gold jewellery demand jumped 4 percent to 2,135 tons, which the United States, India and China were the major drivers, accounting for two over three of the increase. Higher-end retailers, for example, Tiffany& Co., plays a major role while lower-end and mass-market retailers have suffered.
The average price of gold in 2017 was US$1,257 per ounce, slightly increased compares to 2016. The average gold price reached its highest with US$1,664 per ounce in 2012.
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