Demand grew 2%.
U.S. demand for gold jewelry in the first quarter was higher than in any first quarter since 2009, the World Gold Council reports.
Demand grew 2 percent year-over-year to 23.3 tonnes, the organization said in its “Gold Demand Trends Q1 2018” report.
“Aided by supportive economic conditions, the market continued to build on the uptrend that started in 2013, highlighting the positive effect income growth has on gold jewellery demand,” the council said. “Online sales again showed strong growth, a trend that is expected to continue.”
Worldwide, gold jewelry demand was 487.7 tonnes in the first quarter, down 1 percent from first-quarter 2017.
The council credited the even demand to “relatively stable gold prices and a broadly supportive economic environment.”