Gold demand down with lower central bank buying in Q3, WGC says

France Nouvelles Nouvelles

Gold demand down with lower central bank buying in Q3, WGC says
France Dernières Nouvelles,France Actualités
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LONDON, Oct 31 - Global gold demand excluding over-the-counter trading slipped 6% in the third quarter as central bank buying fell short of last year's record levels and consumption by jewellers declined, the World Gold Council said on Tuesday.

Spot gold prices hit $2,009.29 an ounce on Friday, surpassing the key psychological $2,000 level for the first time since mid-May, as investors piled into safe-haven bullion amid the Middle East conflict. Central bank demand totalled 337.1 tons, down from a record 458.8 tons a year before. For the first nine months of 2023 however, official sector gold purchases hit 800 tons, more than in any January-September period in WGC data going back to 2000.

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