This World Gold Council Gold Demand Trends report, which covers the period July-September 2013, highlights the resilience of the global gold market in what is traditionally a slower quarter for gold demand. The continued growth in consumer demand across the globe and the strength of Asian gold demand overall, reinforces the patterns first seen at the beginning of 2013, clear evidence of the self-balancing nature of the global market.
Overall demand for gold in Q3 2013 was 869 tonnes (t), down 21% on the same period a year ago. However, demand remained strong across most countries and sectors. The exceptions were gold-backed ETFs, which had net outflows of 119t this quarter, compared to 402t in Q2 2013, and India where the result of government intervention in the Indian gold market was to reduce demand by 71t this quarter.
Taking the year as a whole so far, the jewellery, bar and coin sectors are showing year-to-date increases, while technology demand remains robust. ETF investment demand is the notable exception, having weakened this year.