August 3, 2024 1:03 PM

Global gold demand drops 6 pc in Q2 2024 due to slump in jewellery consumption, OTC investment pushes total to record high

Global gold demand in Q2 2024, excluding over-the-counter (OTC) transactions declined by 6 per cent year-on-year to 929 tonnes, primarily due to a sharp fall in jewellery consumption according to the latest report of World Gold Council. However, when including OTC investment, total gold demand increased by 4 per cent y/y to 1,258 tonnes, marking the highest Q2 figure since data collection began in 2000. The record-high gold prices took a significant toll on jewellery consumption. Volumes fell...