RESEARCH AND ANALYSIS
Gold demand in the third quarter of 2011 reached 1,053.9 tonnes, an increase of 6% compared to the same period last year. This equates to US$57.7bn, an all-time high in value terms.
According to the World Gold Council’s Gold Demand Trends report for Q3 2011, this increase was driven by investment demand which rose by 33% year-on-year to 468.1 tonnes, generating record quarterly demand of US$25.6bn.
The report also revealed investment demand in Europe reached a record quarterly value of €4.6bn, equating to 118.1 tonnes - a year-on-year increase of 135%.
The increase in overall investment demand was all the more impressive given the sharp gold price correction in September, which encouraged a wave of profit taking among bar and coin investors.
Virtually all markets saw strong double-digit growth in demand for gold bars and coins, the World Gold Council said.
Download Gold Demand Trends Second Quarter 2011.
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