The price of gold declines after growth caused by the data published on the eve of World Gold Council on the global demand for precious metals. World Gold Council reported that global demand for gold in 2011 was 4.06 tons, which cost is estimated at 205.5 billion dollars, which is the highest level since 1997. Demand for gold in the investment sector in2011 increased by 5% - to 1.64 tons. Most of the growth in demand for precious metals, as before, we have China and India. In 2011, the demand for gold in China increased by 20% - up to 769.8 thousand tons. The sharp increase in demand for precious metals was recorded in the investment sector in the country (69%).

The biggest demand for precious metals in the last year is still observed in India, where in2011 it was sold to 500 tons of gold and gold jewelry.

The cost of the February gold futures on the COMEX today kept in the range of $1721.7 - $1735.1 per ounce.