RESEARCH AND ANALYSIS
Demand for gold dropped by 2 percent in the three months ending
September 30 to 929.3 tonnes compared with the third quarter in 2013, the
World Gold Council has reported.
The highlight for gold was a resurgent appetite for
jewellery in India, which saw a 60 percent increase in Q3 to 183 tonnes.
India once again took over as the world's biggest gold consumer, buying 225.1
tonnes of gold jewellery, coins and bars last quarter, compared to 182.7
tonnes in China, a plunge of 37 percent.
�����This quarter the market continued to find its feet after an
exceptional 2013, with China catching its breath and buying in the build up
to Diwali driving Indian jewellery purchases,����� Marcus Grubb, Managing Director of
Investment Strategy at the World Gold Council said.
In the investment sector, world demand for bars and coins
was down 21 percent to 246 tonnes. The WGC said third quarter demand for bars
and coins was very close to the 10-year quarterly average of 240.6 tonnes,
adding that before the financial crisis of 2008, the European bar and coin
market was virtually non-existent.
Full details of the latest WGC
findings can be found in Gold Demand Trends Third Quarter 2014 [pdf 1.16 mb]
