Global demand for gold continues to fall

Global demand for gold in the July-September of this year decreased by 2% yoy and amounted to 929.3 tons in physical terms, according to the report World Gold Council (WGC).

In monetary terms, the consumption decreased by 6% to $ 38.3 billion. The average price fell 3% to $ 1281.9 per ounce.

The main items in demand, despite the 4% decrease in purchases remain jewelry. III In the last quarter of their consumption was 534.2 tonnes, including India had 182.9 tonnes (a 60% increase in annual terms), China - 157.1 tons (38% decline). The demand for jewelry in Russia has increased by 1% to 18.6 tonnes.

World investment demand for yellow metal (including ETF, coins, bars and so on) was 204.4 ton, or 6% increase based on the annual rate. The outflow of gold exchange-traded funds (ETF) has decreased by three times, but still amounted to 41.3 tons. 21% dropped the demand for gold bars and coins to 245.6 tons.

Purchases of gold by central banks decreased by 9% compared to III quarter of 2013 to 92.8 tons.

Deliveries of gold on the world market fell by 7% to 1.0475 thous. Tons. The decrease was due to a significant - 25% - the decline in production of secondary gold (made up 250.5 tons). Mining is almost unchanged and amounted to 797 tonnes.