×
1 256
Fashion Jobs
VANS
Account Coordinator - French Speaking - Vans
Permanent · NOTTINGHAM
ESTÉE LAUDER
Tom Ford - Business Manager - Selfridges, Birmingham - 37.5 Hours - Full Time, Permanent
Permanent · Birmingham
ESTÉE LAUDER
Marketing Executive, Tom Ford Beauty, Kilian, Darphin And le Labo - Travel Retail Emea (Based London)
Permanent · London
ESTÉE LAUDER
Corporate Account Executive, Lagardere, Dfs, Inflight And Aquatic - Travel Retail Emea (Based London)
Permanent · London
ALEXANDER MCQUEEN
Collection Coordinator Assistant
Permanent · LONDON
ESTÉE LAUDER
Clinique - Consultant - Boots, Oxford - 24 Hours - Part Time, Permanent
Permanent · Oxford
ESTÉE LAUDER
Clinique - Consultant - Boots, Sedley Place London - 37.5 Hours - Full Time, Permanent
Permanent · London
PAUL SMITH
Office Administrator
Permanent · NOTTINGHAM
FRASERS GROUP
Trainee Commercial Manager
Permanent · SHIREBROOK
FOREO
Key Account Manager
Permanent · London
ESTÉE LAUDER
Clinique - Consultant - John Lewis Edinburgh - 26 Hours - Part Time, Permanent
Permanent · Edinburgh
BEARA BEARA
Marketing Executive (Taiwanese)
Permanent · LONDON
BRANDLAB 360 - HULA
Hula by Barbara Hulanicki – Wholesale Sales Manager
Permanent · LONDON
HOMEGOODS
Loss Prevention Detective
Permanent · Countryside
TK MAXX
10933-Loss Prevention Officer Sth Ruislip
Permanent · Ruislip
TK MAXX
10933-Loss Prevention Officer Haringey
Permanent · London
ESTÉE LAUDER
Aveda Haircare Category & Marketing Planning Manager
Permanent · London
ESTÉE LAUDER
Mac - Area Sales And Education Manager - London - Maternity Cover
Permanent · London
RALPH LAUREN
Operations Manager - Gretna
Permanent · Gretna
LUXURY RECRUIT
Head of Digital - Luxury
Permanent · LONDON
LUXURY RECRUIT
Brand Director - Luxury
Permanent · LONDON
LEVI'S
Mobile App Trading & Operations Manager
Permanent · London
By
AFP
Published
Aug 3, 2017
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

World gold demand hits eight-year low

By
AFP
Published
Aug 3, 2017

Gold demand slumped 14 percent in the first half of 2017 to hit the lowest level in eight years as US traders exited the haven investment, the World Gold Council said Thursday.


Photo: Tiffany & Co.



Global demand dropped to 2,004 tonnes in the first six months of the year compared with the first half of 2016, the WGC said in its latest quarterly report.

"The last time H1 demand was lower... was in 2009" when it totalled 1,853 tonnes, a spokeswoman confirmed to AFP.

Most of the drop in demand came in the second quarter, with it sliding 10 percent to 953.4 tonnes compared with the April-June period in 2016, the WGC added.

John Mulligan, a Council director, noted US investors had exited exchange-traded funds (ETFs) for gold at a greater extent than their European peers, as the Federal Reserve embarks on a course of raising interest rates.

"The European ETF investor is a lot less volatile, a lot more stable and a lot less likely to to-and-fro in terms of liquidation than their US counterparts," he said.

ETFs allow investment without trading on the futures market.

"Demand for the first half of 2017 was down 14 percent compared to last year, but in some respects the market was in better shape," added Alistair Hewitt, the WGC's head of market intelligence.

Last year's growth was solely down to record ETF inflows, while consumer demand slumped.

"So far this year we have seen steady ETF inflows in Europe and the US, jewellery demand has recovered with good growth in India, while retail investment and technology demand is up too," Hewitt said.

Gold demand had slumped 18 percent in the first quarter from a year earlier as US investors abandoned the precious metal after Donald Trump's presidential election win.

Gold is viewed as a haven investment in times of economic uncertainty but there is now less market focus on Trump's ability to pass through reforms compared with a few months ago.

A stronger dollar, thanks in part to higher US rates, has also led investors to move away from gold and into the greenback.London, Aug 3, 2017 (AFP)

Copyright © 2022 AFP. All rights reserved. All information displayed in this section (dispatches, photographs, logos) are protected by intellectual property rights owned by Agence France-Presse. As a consequence you may not copy, reproduce, modify, transmit, publish, display or in any way commercially exploit any of the contents of this section without the prior written consent of Agence France-Presses.