Gold Demand at 8-Year Low

Gold demand slumped 14% in the first half of 2017 to hit the lowest level in eight years as US traders exited the haven investment, the World Gold Council said Thursday, AFP reported. Global demand dropped to 2,004 tons in the first six months of the year compared with the first half of 2016, the WGC said in its latest quarterly report. “The last time H1 demand was lower...was in 2009” when it totaled 1,853 tons, a spokeswoman confirmed to AFP. Most of the drop in demand came in the second quarter, with it sliding 10% to 953.4 tons compared with the April-June period in 2016, the WGC added.