Gold Investment Demand
The World Gold Council have released their latest edition of their Gold Investment Digest. For those that aren’t aware of the World Gold Council’s website, it is a great source of statistics and research on the gold market.
Highlights of the current report are;
– The gold price continued its upward trand during Q3 2010, ending the quarter at $1,307.00/oz, 5.1% higher quarter-on-quarter
– Gold’s average volatility of 13.2% for the period was lower than the previous quarters and remained below that of equity and commodity indices
– Gold investment demand has remained robust due to concerns about further quantitative easing and very slow economic growth in the developed world. Strong jewellery consumption in regions like China, usage in technological applications and continued central bank buying have also sustained a healthy demand for gold
– Gold Investment demand for bars and coinsduring Q3 2010, whilelower than the second quarter, remains historically high
– Demand is expected to increase in the 4th quarter with the main festive season
– Investors bought 28 tonnes of gold in ETFs bringing their holdings to record highs of 2,070 tonnes
– Net long positions in the COMEX futures market remained robust during the quarter as investors continued to see the value in the long gold trade
To read the report in full click here.