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Central banks helped prop up demand for bullion, but Russian retail customers abandoned the market as the ruble collapsed, the World Gold Council's 2015 trends report revealed.
Meanwhile, skittish investors pushed investment demand for gold up 15 percent on-year in the fourth quarter to 169.3 tons, as net outflows from exchange-traded gold funds slowed.
The council reported nearly flat total demand on-year at 4,212 tons, after a weak first half and a rebound in the second half on low prices and increasing global political tensions and financial turbulence.
Purchases by central banks ticked up from 584 tons in 2014 to 588 tons, which the council attributed to a need for greater diversification into gold for the banks' assets as the oil price tumbled and global economic confidence plunged.
Thursday, February 11, 2016
Global central banks propped up gold demand in 2015: Report
CNBC reports:
