Demand for gold fell in the first quarter of 2018

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The World Gold Council (WGC) announced Thursday that demand for gold fell in the first quarter of this year, indicating that growth in China and the United States was offset by weaker Indian demand for gold.

Demand for gold fell by 7 percent to 973.5 tonnes in the first quarter of 2018, the board said, citing the decline in demand for gold bullion and gold-backed trading funds.

Growth in China and the United States offset weaker Indian demand for gold, he said, adding that total gold supply rose 3 percent to 1,063.5 tonnes.

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