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Gold Bullion Demand Surges 27% In Q3 – New Chinese “Buying Spree”

from Gold Core:

Gold Demand Trends Q3 2015 was released by the World Gold Council today. The quarterly publication is the leading industry resource for data and opinion on global gold demand and examines demand trends by sector as well as geography.

The key findings from the report are as follows:

– Overall demand increased by 8% year-on-year to 1,121t as selling of futures contracts and ETFs contributed to a price dip, 6% in July, which buoyed gold demand around the world.

– Total consumer demand – made up of jewellery demand – totalled 928t, up 14%.

– Global investment demand saw a significant rise of 27% to 230t, up from 181t in Q3 2014.

This was led by the US which saw a surge in bar and coin demand – it tripled and was up 207% to 33t from 11t on the same period last year, with massive demand from China, up 70% to 52t and Europe up 35% to 61t.

China’s sharp devaluation of the yuan this summer sparked another gold bar and coin “buying spree” in China according to the World Gold Council, as canny store of wealth buyers sought to shelter themselves from further market volatility and sharp falls in stock markets.

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