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Gold/Mining/Energy : Gold & Gold Stock Analysis

GLD 368.80

+0.2%

Nov 3 4:00 PM EST

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To: Da Rookie who wrote (29522)	8/13/2015 2:14:37 PM
From: Kirk ©	of 29622

Gold demand falls to six-year low By Henry Sanderson August 13, 2015 5:00 am Demand for gold fell to its lowest in six years in the second quarter, in a further sign the world’s largest buyers are staying away. The world’s two largest consumers, China and India, accounted for half of the fall in global demand to 914.9 tonnes, according to a report from the World Gold Council, an industry body. Gold has been hit this year by the strengthening US dollar and expectations that the Federal Reserve will raise interest rates, failing to draw any haven demand from the uncertainty over Greece earlier this year. But signs of weakness in India and China, where gold is primarily used for jewellery, may add to concerns about the outlook for the metal. “The consumer environment in China has been overshadowed by the deceleration in domestic GDP growth and the jewellery market has been a notable casualty of this trend,” the report said. “Stock market turbulence also impeded demand.” ... Central bank purchases of gold fell 13 per cent from a year earlier in the second quarter to 137.4 tonnes, it said. More ft.com

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