In 2012, global demand for gold fell for the first time since 2009: this was revealed by the World Gold Council, adding that the decline was due to lower demand from India and China. Demand in 2012 was 4,405 tonnes, down 3.85% from 4,582.3 tonnes a year earlier. In terms of value, however, demand for gold increased to a record level of $236.4 billion last year due to the rise in the average price. According to the World Gold Council, the decline in retail consumer demand was counterbalanced by the increase in demand from institutional investors and central banks. India’s gold demand, the report highlights, fell 12% from 2011 to 864.2 tonnes, despite an increase in the last quarter. In China, demand was flat at 776.1 tonnes. Global demand from jewelery stores, which accounts for 44% of total demand, fell by 3% to 1,908 tonnes. For 2013, the estimates of the WGC analysts foresee a reduction in demand from jewelery stores in terms of volume.
