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Q3 rise in demand for gold

17th November 2011

A significant rise in demand for safe haven commodities like gold has been seen in the third quarter of 2011, new figures have shown.

According to the latest Gold Demand Trends report from the World Gold Council, the commodity saw an increase in investment of six per cent over July to September this year, with 1,053.9 tonnes of gold transactions taking place.

Furthermore, gold exchange traded funds saw a 58 per cent year-on-year increase, with overall gold demand for the quarter standing at $57.7 billion - an all-time high for the three-month period.

"Increasing levels of inflation, the US credit rating downgrade, a worsening eurozone sovereign debt crisis and the lacklustre performance of many assets drove investors to increase holdings in gold," commented Marcus Grubb, managing director for investment at the World Gold Council.

Reuters recently reported investors may be taking a shorter term view of markets over the coming weeks, after iron ore saw a 34 per cent dip in value over just six weeks earlier this month.

Posted By Andrew Cottrill

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