Gold Bars and Coins Investment Dipped in Q2: World Gold Council

SEATTLE (Scrap Monster): The World Gold Council published the Gold Demand Trends Report for Q2 2024. As per report, the global demand for gold bars and coins witnessed 5% decline year-on-year during the quarter to total 261 tonnes. The demand totalled 574 tonnes in the first half of the year, marginally down when compared with the initial six-month period in 2023.

China reported yet another robust quarter, with the bar and coin demand in the country witnessing significant year-on-year surge by 62% to 80 tonnes. The bar and coin investment demand witnessed the best Q2. The H1 demand totalled 190 tonnes, surging higher by 65% over the prior year period.

The Q2 bar and coin investment in India witnessed a repeat of the strong Q1, with demand totalling 43 tonnes, higher by 46% over the prior year quarter. The H1 demand was up by 37% to 87 tonnes, which is the highest H1 demand since 2014. The Turkish demand stood at 29 tonnes, sharply down by 29% from Q2 2023. The gold bar and coin demand across the Middle East fell 13% year-on-year to 28 tonnes in Q2.

The Western markets witnessed healthy investment in Q2. The U.S. demand totalled 18 tonnes, sharply lower by 48% from Q2 2023. The demand in Europe remained weaker with regional demand reporting 65% slump year-on-year to 11 tonnes. The Australian gold bar and coin investment dropped by 19% to 3 tonnes during the quarter, WGC report said.

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