The World Gold Council said on Friday that global demand for the gold had fallen in the first three months of 2023, as heavy buying by central banks and Chinese consumers led to fewer purchases by investors.
In its latest quarterly demand trends report, the council said total demand reached 1,081 tonnes, down 13% from the same quarter last year.
The report also showed that India’s gold demand in the first quarter fell 17% to its lowest level in two and a half years, and is expected to remain weak until the third quarter, due to the record price increase.
price movements
In one week, the price of gold rose 1.35% to $2,016.79 per ounce.
And the prices of the yellow metal had fallen sharply in Friday’s trading, by 1.63%.
Silver was also down 1.47% on Friday at $25.66 an ounce, but the precious metal was up 2.44% in one week.
Read the Latest World News Today on The Eastern Herald.
