Global gold demand was 8% above its five-year average in the third quarter of 2023, with central bank buying keeping a historic pace, the World Gold Council reported on Tuesday.
However, the figure was down 6% year-on-year to 1,147 tons in July-September, a Gold Demand Trends report said.
Central banks saw the third-strongest quarter of net gold buying with 337 tons. This brought year-to-date demand to a record high of 800 tons, a surge of 14% from a year earlier.
Investment demand surged 56% from last year to 157 tons in the three months to September. Bar and coin investment declined 14% to 296 tons, due to sharp falling demand in Europe.—AA
