Global gold demand down 7 pct in Q1 as investment slows: WGC

BEIJING, May 3 (Xinhua) -- Global gold demand dropped 7 percent from a year earlier to 973 tonnes in the first quarter due to a fall in investment demand, the World Gold Council (WGC) said Thursday.

According to the latest gold demand trends report, total investment demand for gold bars, coins and gold exchange-traded funds (ETFs) in Q1 went down 27 percent to 287 tonnes, as price fluctuations hampered investor interest.

Demand for gold in the technology sector continued to improve, up 4 percent year-on-year to 82 tonnes in Q1.

In the first three months of 2018, global jewelry demand dipped 1 percent from one year earlier to around 488 tonnes.

Jewelry demand in China grew 7 percent in Q1 to a three-year high of 187.8 tonnes, which was boosted by holiday spending, according to the WGC.

Wang Lixin, WGC's managing director in China, said the Chinese gold jewelry industry should not only focus on technology and design, but also on brand building and customer service. Enditem