Loading prices...

Register/Sign in
ScrapMonster
Sell Your Junk CarGet an instant quote for your car on ScrapMonster.com
Gold November 02, 2020 09:30:08 PM

World Investment Demand for Gold Touched 495 Tonnes

Paul Ploumis
ScrapMonster Author
The investments into gold-backed ETFs grew by 272.5t during the quarter.

World Investment Demand for Gold Touched 495 Tonnes

SEATTLE (Scrap Monster): The global investment demand for gold touched 494.6 tonnes in Q3 this year. This is significantly higher by 21% compared with Q3 2019, said the latest Gold Demand Trends Report published by the World Gold Council (WGC). The investment demand had totalled 408.10 tonnes in the third quarter of 2019.

The investments into gold-backed ETFs grew by 272.5t during the quarter. The total holdings reached 3,880t at the end of the quarter. The year-to-date inflows into gold ETFs surpassed 1,000t. It must be noted that 300t and 431t were added in the first and second quarter of the year respectively. In value terms, the global assets under management (AUM) edged higher to $235.4 billion, WGC noted.

RELATED NEWS:

Gold Demand Slumped to Lowest Quarterly Total in Q3 2020

WGC Foresees Opportunities for Gold Investment in Russia

Meantime, the investment in gold bars and coins surged higher by 49% over the previous year in Q3 to 222.1t. The Chinese gold bar and coin demand of 57.8t in Q3, increased significantly over the prior quarter as well as the quarter a year before. The Indian gold bar and coin demand increased 51% over the year to 33.8t in Q3. The bar and coin demand in Turkey increased more than seven-fold to 48.5t in Q3 this year.

The U.S. bar and coin demand more than quadrupled to 19.2t. The European investment demand totalled 52.1t in Q3. Germany and Switzerland were the major buyers during the quarter, whose purchases were up by 81% and 57% respectively.

×

Quick Search

Advanced Search