Gold demand rose by 2% in 2016, says report

By Muhammed Ali Gurtas

ANKARA (AA) - Demand for gold increased by 2 percent in 2016, according to the World Gold Council's latest report.

The gold demand reached to 4,308.7 tons with a 92.9-ton hike in 2016, marking the highest amount in the last three years, the report said.

The council said that central banks' demand for gold was the lowest since 2010 with 383.6 tons of net purchases, 33% lower than 2015.

Turning to jewelry which the report said was hit by high gold prices, the demand of it fell to a seven-year low of 2,041.6 tons.