922 tonnes of gold demand hit in the third quarter, an increase of 12% of the period one year ago, a trade group said Wednesday. Demand for gold jewelry rose by 8% over the same period, the World Gold Council said. Retail Investments increased 25% to 243 tonnes, as investors picked up gold bars. Demand for gold-backed exchange-traded funds, however, fell 7% to 39 tons.
“After a remarkable rise in the previous quarter, which was supported by increased sovereign risk and currency concerns, this quieter period for ETFs consolidation in the market reflects,” the group said. Industrial demand, meanwhile, has recovered from pre-crisis levels of 110 tonnes, an increase of 13% from the third quarter of last year, driven by improving global demand for consumer electronics with gold parts
source:marketwatch
Asia stocks swing between gains, losses
Asian stocks swung between gains and losses, while lead and nickel declined as investors weighed the impact of higher interest rates in China. . . Read more »
Gold Drops as jobless claims slow, investors reduce ETF Holdings
Gold fell in New York for the third time in four days for signs of a strengthening of the U. . . Read more »