Market Watch: Global Gold Demand Tops $100 Billion for First Time Ever in Third Quarter
Article by Myra P. Saefong in Market Watch
Global gold demand climbed to a record high in the third quarter, with the value of demand for the precious metal topping $100 billion for the first time ever, according to a report from the World Gold Council released Wednesday.
Demand was supported by investors in the third quarter, “particularly those from Western markets who responded to a combination of lower interest rates and continued geopolitical risk,” Juan Carlos Artigas, global head of research at the World Gold Council, told MarketWatch.
Total gold demand, including over-the-counter, or OTC, investments which are not made on a central exchange, climbed by 5% year over year to 1,313 metric tons in the ......