Analysts at Thomson Reuters expect the price of gold to push back over $1,300 and then continue to rise above $1,400 through next year, primarily driven by overvalued stock markets, according to the GFMS Gold Survey 2017 Q3 Update and Outlook.
After surging in August and September, inflows of gold into gold-backed ETFs flattened, but remained in positive territory in October.
Global gold-backed ETF funds added 3.3 tons of gold last month, as inflows into European funds offset outflows in North America. according to the latest report by the World Gold Council.
If you saw the headlines last week, you know overall global gold demand fell steeply in the third quarter of this year. But as we reported, there was a lot of good news for gold buried beneath the gloomy headlines.
Slumping Q3 gold demand in India was a big driver in the overall global decline, but even there, we see some signs of optimism. Indian gold-buying dropped off primarily due to new taxes and regulations imposed by the Indian government over the summer. There are already signs the market is adjusting
For this installment of Fun on Friday, I was planning on telling you all about a $9,000 ball of yarn. But this morning, I found something even better.
The amount of gold used in the technology sector grew for the fourth consecutive quarter, according to the latest demand report by the World Gold Council.
Tech industries consumed 67.3 tons of gold in Q3, a 3% increase year-on-year. Demand for memory chips served as a primary driver for increased industrial gold consumption.
If you’ve perused the mainstream headlines today, you’ve probably read that overall gold demand fell to an 8-year low last quarter. This was primarily due to a steep drop in inflows into gold ETFs compared to last year, and sagging jewelry demand in India after the implementation of a new tax scheme. But despite the gloomy-sounding headlines, investors are still buying physical gold.
Investment demand for physical gold grew in the third quarter by 17%, according to a report released by the World Gold Council.
Gold exports from Australia surged from August to September, according to data released by the Australian Bureau of Statistics (ABS).
Non-monetary gold exports rose 17% in the period, an increase of $217 million in seasonally adjusted terms.