(MENAFN) The World Gold Council, or WGC, said that net gold demand has dropped by 15 percent globally in 2013, despite the huge purchases of gold by consumers, according to Khaleej Times
Massive liquidation of bullion-backed exchange-traded funds returned 881 tons of gold to the market last year, part of a 51-per cent slump in investment demand to 773.3 tons
WGC said: "In 2013, the gold market saw 21 per cent growth in demand from consumers which contrasted with outflows of 881 tonnes from ETFs. The net result was that global gold demand in 2013 was 15 per cent lower than in 2012, with a full year total of 3,756 tonnes.
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