{"id":30650,"date":"2024-10-30T13:15:53","date_gmt":"2024-10-30T13:15:53","guid":{"rendered":"https:\/\/rafinor.com\/?p=30650"},"modified":"2024-10-30T13:16:40","modified_gmt":"2024-10-30T13:16:40","slug":"cererea-totala-de-aur-a-crescut-cu-5-la-suta-la-nivel-global-in-trimestrul-trei-2024","status":"publish","type":"post","link":"https:\/\/rafinor.com\/en\/cererea-totala-de-aur-a-crescut-cu-5-la-suta-la-nivel-global-in-trimestrul-trei-2024\/","title":{"rendered":"Total global gold demand rose by 5 percent in the third quarter of 2024"},"content":{"rendered":"

Total demand for gold, including OTC (over-the-counter) investments, rose by 5%, calculated year-on-year, to 1,313 tons, an all-time record for a third quarter since 2024. This momentum was reflected in the gold price, which hit a series of new record highs during the quarter. The value of demand rose by 35% y\/y to surpass $100bn for the first time, World Gold Council (WGC) data show.<\/strong><\/p>

Global gold ETF (equity) inflows (95t) were a major driver of growth in Q3, this was the first positive Q3 since Q1'22, with a y\/y change from strong outflows (-139t) Q3'23.<\/p>

Investment in bullion and coins (269t) fell by 9% y\/y, down from a relatively strong Q3'23. Much of the decline was specific to two or three key markets, offset by a very strong quarter in India.<\/p>

Gold jewelry consumption (459 t) fell by 12% y\/y, despite strong growth in India. Although consumers bought small quantities, their spending on gold jewelry increased: the value of demand rose by 131TPTP3T y\/y to over USD 36 billion.<\/p>

The pace of central bank buying (186 t) slowed in Q3, but a-t-d buying is in line with 2022 and remains widespread.<\/p>

AI continued to support the use of gold in technology (83t), demand rose by 7% y\/y, albeit from a fairly low base, and the outlook remains cautious.<\/p>

LBMA (PM) gold prices continued to break successive records in Q3. The average price for the quarter was 28% higher y\/y at a record high of USD 2,474\/oz.<\/p>

OTC investment almost doubled y\/y to 137t. This was the seventh consecutive quarter that OTC investment has been positive for gold demand and remains a notable component of the market.<\/p>

Total gold supply increased by 5% y\/y to a record 1,313 t. Mine production increased by 6% y\/y to another quarterly record, with output eclipsing the previous 2018 high. Recycled gold volume rose by 11% y\/y, but large-scale distress sales are not yet evident.<\/p>

Investment flows were key to gold's Q3 performance. Falling interest rates, geopolitical uncertainty, portfolio diversification and momentum buying were among the key factors.<\/p>

The outlook for 2024 shows that professional flows are reviving, and combined with solid investment in bullion and coins will offset weaker consumer demand and slower central bank buying.<\/p>

Healthy flows into global gold ETFs were a major driver of the increase in gold demand in Q3. Combined with continued interest from OTC investors, this helped propel gold prices to a series of record highs throughout the quarter. Consumption of gold jewelry fell as the price rose, despite robust advertising in India triggered by a reduction in gold import duties.<\/p>

Central bank net demand has slowed but remains healthy. Official sector institutions bought 186 net tons of gold in Q3. Y-t-d purchases are in line with 2022 at 694t.<\/p>

Holdings of global gold ETFs increased by 95 tons, with inflows across all regions. This was the first quarter of total net inflows since Q1'22 to date.<\/p>

Demand for gold bars and coins was 9% lower y\/y. Significantly lower levels of demand were recorded in China, Turkey and the USA, which were outweighed by an increase in purchases in India.<\/p>

Gold jewelry consumers were constrained by record-high prices. Global demand for gold jewelry fell by 12% y\/y, despite a strong increase in Indian demand.<\/p>

Analysts' expectations for a resumption of Western investment flows were realized in Q3, helping to propel gold prices.<\/p>

Investing in bullion and coins is set to remain solid as jewelry buying returns amid high prices. Central bank buying, though slowing, is on track for a strong year. Supply is on track for a record year after very strong mining output in the third quarter.<\/p>

Source: <\/p>

https:\/\/www.puterea.ro\/cererea-totala-de-aur-a-crescut-cu-5-la-suta-la-nivel-global-in-trimestrul-trei-2024\/<\/a><\/p>","protected":false},"excerpt":{"rendered":"

Total gold demand, including OTC (over-the-counter) investments, rose by 5%, calculated year-on-year, to 1,313 tons, an all-time record for a third quarter since 2024. This momentum was reflected in the gold price, which hit a series of new record highs during the quarter. The value of demand rose by...<\/p>","protected":false},"author":1,"featured_media":30573,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rank_math_lock_modified_date":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-30650","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fara-categorie"],"_links":{"self":[{"href":"https:\/\/rafinor.com\/en\/wp-json\/wp\/v2\/posts\/30650","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/rafinor.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/rafinor.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/rafinor.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/rafinor.com\/en\/wp-json\/wp\/v2\/comments?post=30650"}],"version-history":[{"count":1,"href":"https:\/\/rafinor.com\/en\/wp-json\/wp\/v2\/posts\/30650\/revisions"}],"predecessor-version":[{"id":30651,"href":"https:\/\/rafinor.com\/en\/wp-json\/wp\/v2\/posts\/30650\/revisions\/30651"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/rafinor.com\/en\/wp-json\/wp\/v2\/media\/30573"}],"wp:attachment":[{"href":"https:\/\/rafinor.com\/en\/wp-json\/wp\/v2\/media?parent=30650"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/rafinor.com\/en\/wp-json\/wp\/v2\/categories?post=30650"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/rafinor.com\/en\/wp-json\/wp\/v2\/tags?post=30650"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}