Global demand declined to 3,756.1 metric tonnes in 2013, from 4,415.8 tonnes a year earlier, the
As investors sold as much through gold-backed exchange-traded products as they bought in the previous three years combined, the steepest price drop since 1981 spurred a 28 per cent jump in bar and coin buying and 17 per cent increase in jewellery consumption. Chinese usage rose 32 per cent to a record.
Bullion slumped 28 per cent last year as some investors lost faith in the commodity as a store of value and as the United States Federal Reserve said it would slow stimulus. Lower prices boosted demand from
"The consumer stepped in and took up that slack from the exchange-traded funds (ETFs),"
Fourth-quarter demand fell 29 per cent from a year earlier to 857.8 tonnes, the lowest level since 2009, the industry group said. Gold for immediate delivery climbed to
Global jewellery demand rose 5.8 per cent to 553.8 tonnes in the latest quarter, with the full-year total climbing to 2,209.5 tonnes. Bar and coin buying fell 5.5 per cent in the three months through December, narrowing last year's total to a record 1,654.1 tonnes.
Total consumer purchases advanced 21 per cent to 3,863.5 tonnes last year, with demand increasing 32 per cent to an all-time high of 1,065.8 tonnes in
Indian consumption was limited after the government imposed import restrictions to curb a current account deficit. Bar and coin buying also accelerated in
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