Global gold demand up 15 per cent in Q2 2016: World Gold Council

Global gold demand grew by 15 per cent to 1,050 tonnes in the second quarter of 2016, mainly driven by considerable investment demand, World Gold Council (WGC) said in its latest report.

The overall gold demand stood at 910 tonnes in the corresponding quarter last year, according to WGC Gold Demand Trends Q2 2016 report.

Investment demand reached 448 tonnes as investors sought risk diversification and a safe store of value in the face of continued political, economic and social instability, it said.

Exchange traded funds (ETFs) performed well at 237 tonnes during the April-June period, while bar and coin demand was also up in a number of markets, including the US, at 25 tonnes (up 101 per cent).

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