The consumer-driving demand of gold was largely attributed to the sharp fall in the gold price in the second quarter, it added.

Globally, the demand in 2013 declined 15 percent to 3,756.1 tonnes compared to 2012, while jewellery demand saw the largest volume increase since 1997 to full year demand of 2,209 tonnes, up 17 percent year-on-year.

China overtook India as the biggest buyer last year. Gold fell 28 percent last year, the most since 1981, as US equities advanced and exchange-traded product holdings fell.

The US tops the official gold holdings among countries with 8,133.5 tonnes, while China ranked 6th with 1,054.1 tonnes.

Based in London, the WGC is the market development organization for the gold industry.
Gold below 3-month high.

Gold on Wednesday held below a three-month high on speculation of slowing demand before the Federal Reserve releases minutes of its latest meeting. Silver fell after the longest run in at least four decades. Gold lost 0.2 percent to USD 1,319.82 an ounce.


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