Gold Demand at Weakest in First Quarter of 2018
In the first quarter of this year, the global gold demand decreased sharply. This was announced by the World Gold Council, AFP reported.
The demand decreased by 7% to 974 tonnes from January to March in 2018. This is the first big decline since 2008, especially after the data given for the first quarter of 2017 - 1047 tonnes. According to the Council, the main reason for this downturn in investment is that the metal has a limited profit.
Gold, which is considered to be the safest investment in times of financial instability, experiences price fluctuations because of the uncertainty in the US economy.
"We get mixed signals from the US economy and we have no clear price direction," Council spokesman John Maligan said. The two reasons for gold to be sought are investments and jewelries.
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