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Total identifiable gold demand for the third quarter 2009 reached 800.3 tonnes, or US$24.7 billion in dollar terms, up 15% from the second quarter, as gold’s long-term store of value and wealth preservation qualities continued to attract investors and consumers. Jewellery and investment demand in non-western markets rebound from the very low levels seen in the first quarter, while industrial demand started to recover in response to an improvement in economic conditions.
However, the Q3’09 Gold Demand Trends Report, released today by the World Gold Council (WGC), shows a 34% drop on year earlier levels due to an exceptionally strong Q3’08, which saw soaring demand in response to the deepening global financial crisis and as many non-western markets responded to a dip in the...
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