Global gold demand declined in the second quarter from the same period a year ago as Chinese consumers curbed jewellery purchases.
It was only last year that China overtook India as the world’s biggest consumer of the precious metal, following a 28 per cent drop in the price of gold – the biggest decline since 1981 – that triggered a buying frenzy among retail customers.
This year however bullion has stabilised, rising 9 per cent to $1,312 a troy ounce as geopolitical tensions in the Middle East, North Africa and Europe took hold. But the metal has traded in a narrow range in recent months and struggled to attract investor interest.
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