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Gold demand in India fell 52.4 percent in Q2


Precious metals research firm Thomson Reuters GFMS July announced in 26 days ‘Gold Survey 2016: Q2 Review & Outlook’. According to the, the world gold total supply of the second quarter of 2016 (April-June) year-on-year 6.2% become the 1,120 tons of the increase, the second quarter (April-June, 1,054 tons) in 2015 was the lowest level since.

So Kimu demand of the world is made of 71.5 tons, a decrease of 22.0 percent, 2 stage milestones cracking of 1,000 tons in a row. It became the most sluggish in the past seven years. A result, the net balance has become an excess supply 96 tons.

Looking at the breakdown of demand, jewelry demand 341 tons of 27.3% year-on-year. Hoarding demand (the sum of coin-bar) 242 tons fell 2.6%, industrial demand is made of 85 tons fell 7.2%. In addition, public purchase is made and 42 tons fell 48.5%, has declined from the previous fiscal year (49 tons). On the other hand, gold ETF is made and 232 tons, and became the capital inflows in the second consecutive quarter.

GFMS is we have and although it dropped to a low level for the first time in the second quarter of the world gold demand is 7 years, the inflow of funds to the ETF has been canceled. In addition, the United Kingdom of the European Union (EU) withdrawal, the US presidential election, the US rate hike postponed observation, from such as concerns about Italian banking sector, with the easy sentiment bought as ‘safe assets’ is followed by the prediction.

In addition, from the perspective of the reduction of Shinsan gold starting from this year, the gold average price of 2016 and $ 1279 prediction 95 from the prior forecast ($ 1,184) have been raising dollars. If you look at the country, India is sharply made 98.8 tons fell 52.4 percent. Breakdown, jewelry demand is 69.2 tons, fell 56.3%, phase 2 100 tons cracking in a row. Hoarding demand (the sum of coin-bar) became 29.6 tons fell 40.1 percent.

China has 122.1 tons, down 20.7 percent. Breakdown, jewelry demand is 83.8 tons, fell 24.1%, Odai cracking 100 tons. Hoarding demand (the sum of the coin bar) also becomes 38.3 tons fell 12.0 percent, was a sharp decline.A result, since the second quarter of 2015, China in the second consecutive has regained the world's gold demand countries.

It should be noted that the second quarter of the gold import volume of India (net basis) 2016 will be 89.5 tons sharp decline from the same period last year (162.4 tons). However, GFMS 7 - September quarter are expected to be 111.0 tons.