Gold Demand Slumps as Increasing Prices Slow Asian Demand

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Gold Demand Slumps as Increasing Prices Slow Asian Demand

Gold Demand Slumps as Increasing Prices Slow Asian Demand
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Gold Demand Slumps as Increasing Prices Slow Asian Demand

by TheStreet 2:24 mins

The World Gold Council reports that gold demand in the second quarter of 2014 fell by 16% as Asian buying declined against the same period a year ago. Safanad chief investment strategist John Rutledge tells TheStreet's Joe Deaux that India's continued tariffs on gold imports and shifts in buying in China are the largest contributors to decreasing demand. Rutledge looks ahead to the end of 2014 and says he expects a price point of about $1,400 an ounce. ETF outflows slowed for gold in the second quarter of this year. Gold has risen about 9% in 2014, reversing from its 2013 largest yearly loss in some three decades.

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