A weak quarter in India was the main reason for year-on-year decline in global gold demand, says the World Gold Council report. Photo: ReutersMumbai: Global demand for gold slipped 9% to 915 tonnes during the third quarter of 2017 compared to the same period last year, an eight-year low, said a World Gold Council report. The gold demand trends report said that the fall was due to weak demand in the jewellery sector and significantly lower inflows into exchange-traded funds. “A weak quarter in India was the main reason for year-on-year decline in global demand. Demand for gold in India for the three months ending September was at 145.9 tonnes, down 24% from the year-ago quarter’s 192.8 tonnes.

Source: Mint November 09, 2017 05:34 UTC