Second Quarter 2013 in summary

Gold jewellery demand rises 37% in Q2 2013, led by Indian and Chinese consumers

Lower gold prices generated a surge in global jewellery demand to 575.5t, the highest volume for five years. In value terms demand was 20% higher than Q2 2012.

Sizeable ETF outflows countered by record bar and coin demand of 508t in Q2 2013

The fall in gold prices led to record demand for gold bars and coins of 507.6t, up 56% in value terms to US$23bn. However, this was mitigated by well-documented outflows from ETFs.

Technology gold demand saw a marginal increase, up 1% in Q2 2013

Demand for gold in the technology sector in Q2 2013 increased by 1% to 104.3t. Price declines and improvements in economic conditions provided a boost to demand from the electronics segment.

Central bank gold purchases slowed in Q2 2013, remain within 70-160 tonne range

Central banks added 71.1t of gold to official reserves in Q2 2013, marking the tenth consecutive quarter of net purchases but 57% down on the previous year.

Total supply shrank 62 tonnes in Q2 2013, driven by 21% decrease in recycling

While Q2 2013 mine production saw a 4% increase year-on-year, the significant reduction in recycling by consumers during the quarter led to the 6% decrease in total supply.

The full report can be read here.