European gold demand soars

European investors swarmed into gold in the second quarter of this year, with demand up 15 per cent year on year to 77.6 tonnes. The demand for gold bars and coins was up 19 per cent from the five-year quarterly average of 65.2 tonnes, said the World Gold Council. Overall, global gold demand in the second quarter reached 990 tonnes, down seven per cent from the 1,065.8 tonnes worth of demand seen over the same quarter last year.