Global demand for gold in III quarter has grown to a two-year high

Global demand for gold in III quarter has grown to a two-year high

In the U.S., the demand for gold increased by 62%, in Europe by 27%. Somewhat lower growth in demand for gold in China and India (13%). In Russia decreased demand for jewellery and bars and coins.

MOSCOW, 12 Nov. Global demand for gold in the third quarter of 2015 increased in annual terms by 8% to 1120,9 tons, which is the highest indicator for the last 2 years, stated in the report of the world gold Council (World Gold Council, WGC).

The growth of demand for metals in China over the period was 13%, up to 239.9 tons, India is also 13% to 268,1 tons, and in the middle East — 10%, to 70.5 tons. In the United States was marked by the growth of demand by 62%, to 58.9 tons, and in Europe by 27%, to 73.6 tons.

The organization indicates that the purchase of bars and coins showed growth in the reporting period by 33% yoy, while demand for jewelry increased by only 6%.

Demand on jewelry in Russia, according to the Council, declined in the third quarter in annual terms by 19% to 13.5 tons. With demand for bars and coins fell 40%, to 1.3 tons in the drop in General consumer demand for gold by 21%, to 14.8 tons.

World gold Council (WGC), established in 1967, the world’s largest gold producers. The main objective of the organization is to stimulate demand for gold. The headquarters of the Council is located in London.