wgc – gold global demand

  • Global investment in ETFs over the quarter was up significantly by 56% on the previous year.
  • The Indian market is showing signs of recovery, up 9% to 223.1t from 204.8t in Q3 2011 following increases in both jewellery and investment demand. In comparison with Q3 2011 jewellery demand was up 7% to 136.1t and investment demand rose by 12% to 87.0t. Investors moved into the imitation coin market*, up 59%, whilst jewellery increased due to re-stocking ahead of the Indian wedding and festival season. Indians appear to have acclimatised to recent price trends and have been buying into a rising market.
  • In China demand fell 8% to 176.8t in Q3 2012 from 191.2t in Q3 2011 due to falls in jewellery of 6% and investment of 12% mainly as a result of negative sentiment surrounding China’s slowing economy.  Jewellery demand was 123.8t in Q3 2012, due to a decline in purchases of 18k pieces and a notable slowdown in the expansion of the retail network, as stock-building reduced. Investment demand was down to 53.0t Demand this quarter remains 19% above the longer term average.
  • Central banks bought 97.6t in the quarter. In six out of the last seven quarters, central bank demand has been around 100t, which is a sharp increase from as recently as 2010. The year to date figure for central bank buying is up 9%.

source: wgc

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