Global gold demand fell 4 per cent last year to its lowest level since 2010 as China failed to repeat its record buying of 2013, according to the World Gold Council, an industry body.
Demand in China fell 38 per cent, as sales of gold bars and coins halved on the back of domestic equity markets recovering and the Communist party’s anti-corruption campaign having a “strong impact”, it said.
Gold has bounced back more than 3 per cent this year on renewed haven buying amid turmoil in the eurozone, after falling 28 per cent over the past two years as global inflation failed to materialise.
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