(RTTNews) - Global demand for gold increased 6 percent year-on-year in the third quarter to 1,053.9 tonnes, the World Gold Council said Thursday.
This equates to $57.7 billion, an all-time high in value terms. This increase was driven by investment demand which rose 33 percent year-on-year to 468.1 tonnes, generating record quarterly demand of $25.6 billion.
Chinese jewelery demand was 13 percent higher year-on-year, while demand in India was sluggish during the seasonally slow months of July and August, compounded by high inflation and greater volatility in the local gold price.
