World Gold Council: Global demand rises 8% in Q3

Gold bars generic

The World Gold Council (WGC) has released its gold demand trends for Q3 noting a rise in demand as “consumers across the globe capitalised on buying opportunity” during a price dip.

According to the report, total gold demand in Q3 2015 stood at 1,121 tonnes, an increase of 8% compared to the same period last year.

Overall global jewellery demand for Q3 2015 was 632t compared to 594t in Q3 2014, up 6% year-on-year. Consumers in India, China, the US and the Middle East took advantage of lower prices in July and August. This was particularly evident in India, partly as festival purchases were brought forward, resulting in a 15% increase in jewellery demand to 211t over the period. The US and the Middle East also saw gains, up 2% to 26t and 8% to 56t respectively.

Story continues below

Alistair Hewitt, head of market intelligence at the World Gold Council, seemed surprised by this result saying: “Global jewellery demand picked up in what is traditionally a quiet time of the year for jewellery demand.”

Total consumer demand – made up of jewellery demand and coin and bar demand – totalled 928t, up 14%.


Total supply and total mine supply remained relatively flat in Q3 compared to the third quarter of 2014. Total supply was up by just 1% to 1,100 tonnes, while total mine supply was up 3% year-on-year to 848 tonnes compared to 814  tonnes during the same period last year.

Year-on-year quarterly mine production shrank by 1% to 828 tonnes in Q3 2015 against 836 tonnes in Q3 2014.

Elsewhere recycling levels were down 6% year-on-year to 252 tonnes compared to 268 tonnes in Q3 last year, while demand in the technology sector declined 4% to 84t as the sector continued to endure pressure, with the industry choosing to shift towards alternative, cheaper materials in technological applications.



Related posts