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RESEARCH
AND ANALYSIS
Gold demand
in the third quarter of 2011 reached 1,053.9 tonnes,
an increase of 6% compared to the same period last year. This equates to
US$57.7bn, an all-time high in value terms.
According
to the World Gold Council’s Gold Demand Trends report for Q3 2011, this
increase was driven by investment demand which rose by 33% year-on-year to
468.1 tonnes, generating record quarterly demand of
US$25.6bn.
The report
also revealed investment demand in Europe reached a record quarterly value of
€4.6bn, equating to 118.1 tonnes - a
year-on-year increase of 135%.
The
increase in overall investment demand was all the more impressive given the
sharp gold price correction in September, which encouraged a wave of profit
taking among bar and coin investors.
Virtually all markets saw strong
double-digit growth in demand for gold bars and coins, the World Gold Council
said.
http://www.gold.org/download/pub_archive/pdf/GDT_Q3_2011.pdf
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Stephen Ward
The Perth Mint
Blog
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