Gold demand reached 1,050 tonnes Q2 2016, a 15% increase year-on-year. This is credited to the strong consumer demand in the United States, which increased 33% year-to-year. Investment was up 140% year-to-year and was the largest component of gold demand for two consecutive quarters for the first time ever. Central Bank demand fell 40% to 77t compared to Q2 2015. Total supply increased 10% to 1,145t. Indian consumer demand fell 18% year-to-year because of monsoons which have sucked rural incomes, which curbed demand. There was a resurgence of gold recycling, which led to the 23% increase year-to-year.
Gold demand and supply statistics for Q2 2016:
Overall demand for Q2 2016 increased by 15% to 1,050t, up from 910t in Q2 2015.
Total consumer demand was 656t down 9% compared to 723t in Q2 2015.
Global investment demand was 448t, up 141% from 186t in the same period last year.
Global jewelry demand fell 14% to 444t versus 514t in the second quarter of 2015.
Central bank demand fell 40% to 77t in Q2 2016, compared to 127t in the same period last year
Demand in the technology sector fell 3% to 81t in Q2 2016.
Total supply was up 10% to 1,145t in Q2 2016, from 1,042t in Q2 2015. Mine production in Q2 2016 was virtually flat year-on-year at 787t.
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