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The World Gold Council's second quarter Global Demand Trends is out and shows ongoing interest from European and U.S. ETF investors, while Chinese fund investors' love affair with the precious metal appears to have dulled for the moment.

Global gold demand was 953.4 tonnes in the second quarter, which was 10% lower than the same time last year. Demand in the first half fell 14% year-on-year to 2003.8 tonnes. The World Gold Council stressed that the declines in demand reflect a slowdown after a surge in ETF demand during the first half of 2016.