Global Q3 gold demand down by 7% at 831 tonnes ETF outflows: WGC
The Hindu
The total demand stood at 894.4 tonnes during the third quarter of 2020
Global gold demand fell by 7% during the July-September quarter to 831 tonnes compared to the same period of 2020, primarily due to outflows from gold-backed exchange-traded funds (gold ETFs), according to a World Gold Council (WGC) report.
The total demand stood at 894.4 tonnes during the third quarter of 2020, WGC's Q3 Gold Demand Trends 2021 report said on October 28.
Net gold ETF sales were relatively small (27 tonnes), but when compared to 274 tonnes during the pandemic-induced buying surge of a year earlier, this was enough to place overall gold demand into a year-on-year decline, despite demand increasing in all other sectors, the report observed.
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