RESEARCH AND ANALYSIS
Demand for gold fell 21% to 869 tonnes (t) in the third quarter of 2013 compared to the same period a year earlier.
In its latest Gold Demand Trends report, the World Gold Council attributed the decline to further outflows of western investorsâ positions in gold-backed ETFs, and government intervention in the Indian gold market which saw demand reduced by 71t during the quarter.
On the other side of the equation, consumer demand in East Asia continued to grow, with a rise of 18% in China alone to 210t during Q3 compared to the same period last year.
âConsistent with the first two quarters of 2013, the global gold market remains resilient, underpinned by the continued shift in demand from West to East, strong demand in consumer categories and solid central bank and technology sectorsâ, the WGC said.
For full details, download Gold Demand Trends Q3 2013 (pdf)
