RESEARCH AND ANALYSIS
The World Gold Council today shed light on global demand for gold in the three months prior to April's price plunge.
Between January and March 2013, demand for jewellery, bars and coins grew thanks largely to buyers in China and India. Central banks also remained significant acquirers of gold.
Nevertheless, total world gold demand for the period was down 13% from a year ago at 963 tonnes and 19% below the fourth quarter of 2012.
The culprit, according to the WGC's latest Gold Demand Trends report, was an outflow from gold exchange-traded fund holdings amounting to 177 tonnes, mainly the result of US holders taking profits and moving into equities.
Download Gold Demand Trends Q1 2013
