Gold's falling price, particularly during the second quarter, has caused demand for the precious metal to increase significantly, according to the World Gold Council (WGC). Marcus Grubb, managing director of the WGC, told Mining Weekly that the price of gold was hit hard during the second quarter, falling more than $12.86/g ($400/oz), compared with the first quarter of 2013 and the second quarter of 2012. He expects the market for gold during 2013 to be 4 kt (128.6 million oz). Much of the reason for gold's decline, according to the WGC, was the anticipation of a recovery in the United States market, where the U.S. Federal Reserve continues to back bonds.
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