Gold Price Today : Gold demand drops by about 12%

World Gold Council said on Thursday that the demand for gold has reached its lowest level in six years in the second quarter of this year.

The council said that the demand fell by 12% to 914.9 tons and decreased buying jewelry in general by 14% and decreased investment in the precious metal by 11% as central banks buy him dropped by 13%.

The Council pointed out that half of this decline occurred in the two countries, China and India, where the purchase was down in China, which is the largest consumer of gold in the world by 3% because of fears of slowing economic growth.

In India’s second consumer of jewelery in the world to buy gold decreased by 23% due to the sharp fluctuations of the weather.

Although the demand for gold decreased in the Middle East by almost a quarter, but both the United States and Europe have seen demand for buying gold because of fears of a collapse of the economy in Greece.

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