Gold demand down in 2019

ANNUAL gold demand dips to 4355.7 tonnes as demand fell 1% in 2019 while there was a huge rise in investment flows into exchange-traded funds and similar products.
Gold demand down in 2019 Gold demand down in 2019 Gold demand down in 2019 Gold demand down in 2019 Gold demand down in 2019

Staff Reporter

This slide was matched by the price-driven slump in consumer demand, the World Gold Council reports.
The WGC says 2019 was broadly a year of two distinct halves: resilience/growth across most sectors in the first half of the year contrasted with widespread year-on-year declines in the second.
"Global demand in the second half was down 10% on the same period of 2018 as year-on-year losses in fourth quarter compounded those from the third quarter, notably in jewellery demand and retail bar and coin investment. Central bank demand also slowed in the second half - down 38% in contrast with the first half's 65% increase.
"But this was partly due to the sheer scale of buying in the preceding few quarters and annual purchases nevertheless reached a remarkable 650.3t - the second highest level for 50 years. ETF investment inflows bucked the general trend.
"Investment in these products held up strongly throughout the first nine months of the year, reaching a crescendo of 256.3t in the third quarter. Momentum then subsided in the fourth quarter, with inflows slowing to 26.8t (-76% year-on-year). Technology saw modest declines throughout the year, although electronics demand staged a minor recovery in the fourth quarter. The annual supply of gold increased 2% to 4,776.1t. This growth came purely from recycling and hedging, as mine production slipped 1% to 3,436.7t."
The full WGC report may be found here: