Chart gallery
31 October, 2023
Gold demand in Q3: weaker y/y but healthy compared with its 10-year average
Gold demand in Q3: weaker y/y but healthy compared with its 10-year average
Gold demand in Q3: weaker y/y but healthy compared with its 10-year average
Source: Metals Focus, World Gold Council
Sources: Metals Focus, Refinitiv GFMS, World Gold Council; Disclaimer
Outlook
Expected change in annual demand, 2023 vs 2022*
Expected change in annual demand, 2023 vs 2022*
Expected change in annual demand, 2023 vs 2022*
*Data to 30 September 2023. Fabrication combines global jewellery and technology demand. Investment includes ETFs, bar and coin and OTC demand. Supply includes mine production and recycling. We have omitted hedging and assume it to be unchanged.
Source: World Gold Council
Sources: World Gold Council; Disclaimer
Data to 30 September 2023. Fabrication combines global jewellery and technology demand. Investment includes ETFs, bar and coin and OTC demand. Supply includes mine production and recycling. We have omitted hedging and assume it to be unchanged.
Jewellery
Global jewellery demand y-t-d is on par with 2022*
GDT Q3 2023: Jewellery Chart 1
Sources: Metals Focus, Refinitiv GFMS, World Gold Council; Disclaimer
* Data as of 30 September 2023.
Indian jewellery demand strengthened in Q3 despite the elevated local gold price
Indian jewellery demand strengthened in Q3 despite the elevated local gold price
Indian jewellery demand strengthened in Q3 despite the elevated local gold price
Indian jewellery demand strengthened in Q3 despite the elevated local gold price
Sources: Bloomberg, ICE Benchmark Administration, Metals Focus, World Gold Council; Disclaimer
*Data as of 30 September 2023.
Investment
US and European-listed funds continued to dominate outflows in Q3*
US and European-listed funds continued to dominate outflows in Q3*
US and European-listed funds continued to dominate outflows in Q3*
* Data as of 30 September 2023.
Source: Bloomberg, Company Filings, ICE Benchmark Administration, World Gold Council
Sources: Bloomberg, Company Filings, ICE Benchmark Administration, World Gold Council; Disclaimer
* Data as of 30 September 2023.
Bar and coin demand so far in 2023 is on par with the last two years of healthy investment*
Bar and coin demand so far in 2023 is on par with the last two years of healthy investment*
Bar and coin demand so far in 2023 is on par with the last two years of healthy investment*
* Data as of 30 September 2023.
Source: Metals Focus, World Gold Council
Sources: Metals Focus, World Gold Council; Disclaimer
* Data as of 30 September 2023.
Year-to-date weakness in European bar and coin demand has offset growth in Turkey and China
Year-to-date weakness in European bar and coin demand has offset growth in Turkey and China
Year-to-date weakness in European bar and coin demand has offset growth in Turkey and China
* Data as of 30 September 2023.
Source: Metals Focus, World Gold Council
Sources: Metals Focus, World Gold Council; Disclaimer
* Data as of 30 September 2023.
Central Banks
Central bank demand has gone from strength to strength*
Central bank demand has gone from strength to strength*
Central bank demand has gone from strength to strength*
*Data to 30 September 2023.
Source: Metals Focus, World Gold Council
Sources: Metals Focus, World Gold Council; Disclaimer
*Data to 30 September 2023.
Reported purchases in 2023 dominated by China, Poland and Singapore*
Reported purchases in 2023 dominated by China, Poland and Singapore*
Reported purchases in 2023 dominated by China, Poland and Singapore*
*Data to 30 September 2023 where available.
Source: IMF IFS, respective central banks, World Gold Council
Sources: IMF IFS, Respective central banks, World Gold Council; Disclaimer
*Data to 30 September 2023 where available.
Supply
Mine production hit an all-time third quarter high in 2023*
Mine production hit an all-time third quarter high in 2023*
Mine production hit an all-time third quarter high in 2023*
*Data as of 30 September 2023. Quarterly data available from Q1 2000.
Sources: Metals Focus, Refinitiv GFMS, World Gold Council
Sources: Metals Focus, Refinitiv GFMS, World Gold Council; Disclaimer
*Data as of 30 September 2023. Quarterly data available from Q1 2000.
Strong East Asian recycling supply offset by subdued activity in RoW*
Strong East Asian recycling supply offset by subdued activity in RoW*
Strong East Asian recycling supply offset by subdued activity in RoW*
*Data as of 30 September 2023.
Sources: Metals Focus, World Gold Council
Sources: Metals Focus, World Gold Council; Disclaimer
*Data as of 30 September 2023.
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