By Chris Oliver
HONG KONG (MarketWatch) -- Global gold demand fell 7% in the second quarter from a year earlier, weighed by demand downturns in India and China, according to Thursday data released by the World Gold Council. Gold for investment and jewellery uses in India eased to 181.3 tons, a 38% drop on year, while demand in China fell to 144.9 tons, or 7% from year-earlier levels. "A softness in India and China, who between them represent over 45% of the total second quarter jewellery and investment demand accounts for much of the slowing of global gold demand," World Gold Council Managing Director of investment, Marcus Grubb, said in a statement. Global demand was relative stable in value terms, with demand during the second quarter at $51.2 billion, compared to $51.6 billion in the year-earlier period, according to the report.
