The World Gold Council released its third quarter report. Some highlights:
- Investment demand +33% y/y
- World demand 468 tonnes; China was 131 tonnes of that
- Indian demand -26% y/y in Q3
- Gold ETFs +58% y/y
- Overall demand +6% y/y
- Mining production +5% y/y
It doesn’t look all that bullish at first blush but gold hit record highs and was above $1700 for most of the quarter. There is also talk that China majorly increased official buying late in the year.
