The demand for gold fell by 14% in the first half of the year

Gold demand declined by 14% in the first half of the year, following a sharp fall in index fund purchases, Gold Council figures said.
Central banks have also seriously delayed their gold purchases in the first six months of the year.
The good news for gold investors comes in the direction of strong demand in India and Turkey.
By comparison, gold-based index funds have grown by 30% in gold purchases for the first half of last year.
Gold is still very close to the upper boundary of a bearish triangle on a weekly basis at levels of $1,285. Breaking this limit may trigger a further strong appreciation for the metal.
The price of gold is also strongly supported by the depreciation of the dollar against other major currencies.