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Gold February 04, 2019 09:30:36 AM

WGC Report Cites Stable Gold Jewellery Demand in 2018

Paul Ploumis
ScrapMonster Author
The Turkish gold jewellery demand plunged to new low in 2018.

WGC Report Cites Stable Gold Jewellery Demand in 2018

SEATTLE (Scrap Monster): The Gold Demand Trends Q4 and Full Year 2018 report published by the World Gold Council (WGC) points to steady worldwide gold jewellery demand in 2018. The demand softened during Q4 ’18.

The annual gold jewellery demand totaled 2,200.0t in 2018, barely unchanged when compared to the demand of 2,200.9t in 2017. The quarterly demand at 636.2t in Q4 ’18 was lower by 3% when matched with the corresponding quarter a year before.

The Chinese demand surged higher by 3% over the prior year to total 672.5t in 2018, which is the highest level in three years. However, sudden spike in domestic prices coupled with continued economic slowdown impacted the Q4 demand, which dropped by nearly 3% to total 174.8t. The traditional 24 carat jewellery lost market share during the quarter. On the contrary, demand for ultra-high purity products and innovative products such as “Mirror Gold” remained robust.

 The demand witnessed marginal decline by 1% in India, dropping from 601.9 t in 2017 to 598 t in 2018. The Q4 demand too was slightly lower year-on-year from 182.4t to 180.1t. The prevailing high domestic gold prices and market volatility dented the demand. The wedding season demand remained muted, mainly on account of less number of auspicious wedding days as per Hindu calendar.

The Turkish demand plunged to new low in 2018. The demand in the Middle East region remained weak. The European demand too witnessed marginal decline by 1% to total 73.4t during the year. However, the U.S. gold jewellery demand hit nine-year peak at 128.4t.

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