黄金魅力不在 二季度同比需求大幅下降

Global gold demand declined sharply in the second quarter of the year as Chinese and Indian buyers purchased less jewelry than a year ago, the said on Thursday.

世界黄金协会周四称，由于中国和印度消费者过去一年珠宝购买量下降，今年第二季度世界黄金需求大幅降低。

According to the WGC, global gold demand during the second quarter of 2017 was 964 metric tons, a 16 percent year-on-year drop. The WGC said the full-year results would be much lower than in 2013.

据世界黄金协会报告，2017年第二季度全球黄金需求量为964吨，同比下降16%。据协会称，今年的总需求将远低于2013年。

The significant drop in the year-on-year demand is not "unsurprising", as the gold boom in 2013 was an exceptional case, the WGC said, adding that it would be difficult for the 2017 numbers to surpass the 2013 levels.

黄金需求量同比降幅如此之大令人讶异，毕竟2013年的黄金市场前所未有的繁荣。世界黄金协会补充道，2017年的黄金需求量很难超过2013年。

Global jewelry demand, which represents more than half of total global demand, fell 30 percent year-on-year to 510 metric tons. However, jewelry demand during the second quarter was 11 percent higher than in the second quarter of 2017, extending the broad upward trend evident since 2009, the WGC said.

世界黄金协会称，黄金珠宝需求占据全球黄金总需求半数以上，同比降幅达30%至510吨。但是，2017年珠宝需求量比2017年同期高出11%，延续了自2009以来的整体上升趋势。

Albert Cheng, managing director for the Far East at WGC said: "We expect 2017 to be a year of consolidation as shown by this quarter's results. The sudden price drop in 2013 meant many Chinese and Asian consumers brought forward jewelry and bar purchases."

阿尔伯特·成，世界黄金协会远东地区总裁表示：“根据这个季度的调查结果，我们希望2017年能成为市场巩固的一年。2013年黄金价格的突然下降意味着中国和其他亚洲国家的消费者带动了珠宝盒金条的购买。”

Marcus Grubb, managing director of Investment Strategy at the World Gold Council, said that compared with an exceptional 2013, when the market saw record consumer buying and investor sell-offs, the quarterly trend in 2017 demonstrates a return to the long-term trends. "It illustrates the uniquely balanced nature of the gold market," he said.

世界黄金协会的投资战略经理马库斯·格拉布称，2013年是个例外，市场上消费者购买和投资人抛空打破记录，而2017年的季度趋势则是回归长期趋势的表现。他说：“这表明了黄金市场独一无二的平衡性。”

In Shenzhen, one of China's jewelry wholesale hubs, many display centers and gold jewelry factories shut shop in the first two quarters of 2017 as demand tapered off. Most of these firms shifted to other businesses, which is natural as only the strong companies and big brands will be able to withstand the market upheavals, said industry experts.

在深圳某珠宝批发卖场，很多展示中心和黄金珠宝加工厂因为黄金需求降低，在2017年前两个季度关门大吉。业内专家称，大部分商家转向其他领域，这种现象不言而喻，因为只有强大的公司和大品牌才能够在市场波动中存活下来。

Total investment demand (combined investment in bars and coins and exchange traded funds) moved up by 4 percent to 235 metric tons during the second quarter. Gold prices moved in a narrow sideways range for much of the second quarter this year, marking a subdued environment for investors. Consequently, bar and coin demand saw a significant reduction from the record highs in 2013 Q2 even as outflows from ETFs slowed, the WGC report said.

世界黄金协会的报告显示，今年第二季度投资总需求（包括金条和金币以及交易所交易基金）上升4%至235吨。黄金价格在第二季度大多只有小幅波，标志了投资市场低迷。因此即使交易所交易基金减持势头有所放缓，金条和金币需求与2013年第二季度创下的记录相比仍有大幅下降。

From a global perspective, the gold demand trends show that the focus is now moving from the West to the East, or in other words, from the US and Europe to Asia.

从全球视角来看，黄金需求趋势表明焦点已经从西方转向东方，换句话说也就是从美国和欧洲转向了亚洲。

Although geopolitical conditions may impact the short-term gold price, in the long run, prices depend on supply and demand, said experts.

专家称，尽管地缘政治因素会影响短期黄金价格，但是从长期来看，价格仍然取决于供给与需求。

Yang Fei, Shanghai-based gold investment analyst said that although gold is seen as a financial product, it is also a commodity and as such its prices depend on demand.

上海黄金投资分析师杨飞称，黄金是一种金融产品，但它同样是一种商品，所以它的价格取决于需求量。

"Investors keep gold in their portfolios to hedge against risks from currency fluctuations and capital market volatility", said Yang.

杨飞说：“投资者会继续将黄金作为他们投资产品之一，以对抗币值波动和资本市场波动。”