The manufacturing of gold jewellery dropped by 10 % YoY to 2,129 tonnes in 2018 , according to the Refinitiv GFMS Gold report 2019 . Europe showed weaker demand , down 6 % YoY. By contrast , global America saw demand up 10 % YoY , thanks to a stronger dollar and improved economic outlook . Asia , which commands 10 % of the global total demand , saw less demand , falling 5 % from previous volumes . However , Chinese jewellery - making saw growth return for the first time since 2013 , rising 2 % . Indian demand retreated 12 % . Demand in the Middle East declined due to the imposition of a new tax in the UAE .
The manufacturing of gold jewellery dropped by 4% YoY to 2,129 tonnes in 2018, according to the Refinitiv GFMS Gold Survey 2019. Europe showed weaker demand, down 6% YoY. By contrast, North America saw demand up 10% YoY, thanks to a stronger dollar and improved economic outlook. Asia, which commands 80% of the global total demand, saw less demand, falling 5% from 2017 volumes. However, Chinese jewellery-making saw growth return for the first time since 2013, rising 2%. Indian demand retreated 12%. Demand in the Middle East weakened due to the imposition of a new tax in the UAE.