This decline was led by two key factors: a softer quarter in the jewellery sector and significantly lower inflows into exchange-traded funds (ETFs) says a press release from World Gold Council.
The Gold Demand Trends Q3 2017 reports that overall gold demand was 915t, a fall of 9% compared with 1,001t in Q3 2016; Total consumer demand rose by 2% to 701t, from 686t in the same period last year; Total investment demand fell 28% to 241t compared with 335t in Q3 2016; Global jewellery demand dropped 3% to 479t, from 495t in the same period last year; Central bank demand climbed 25% to 111t compared with 89t in Q3 2016 ; Demand in the technology sector increased 2% to 84t compared with 83t in Q3 2016
Total supply was down 2% to 1,146t, from 1,168t in the same period last year; Recycling fell 6% to 315t compared with 335t in Q3 2016.
Aruna Gaitonde, Editor-in-Chief of Asian Bureau, Rough & Polished