No 1 source of global mining news and opinion
Global gold demand swelled about 5% in the third quarter, setting a record for the period and lifting consumption above $100 billion for the first time, according to the World Gold Council.
Gold has stormed higher this year, rallying by more than a third and setting successive records. The jump has been driven by robust central-bank buying and increased demand from wealthy investors, with recent gains aided by the Federal Reserve’s shift to cutting interest rates. Purchases in the opaque over-the-counter market were becoming an increasingly important force for prices, according to John Reade, the council’s chief market strategist.
Investment flows were key to the metal’s 13% gain in the third quarter, with total demand for ETFs, bars and coins reaching the strongest levels since Russia’s invasion of Ukraine in 2022.in Wednesday’s trading — has registered gains every month this year, apart from a minor pullback in January, and in June, when prices were flat.
Investment flows were key to the metal’s 13% gain in the third quarter, with total demand for ETFs, bars and coins reaching the strongest levels since Russia’s invasion of Ukraine in 2022. Central-bank purchases continued — with Poland, Hungary and India among the top buyers — even as the pace of official activity slowed. Jewelry demand fell as record prices hurt consumption.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fanatics Sportsbook Promo: Bet $100, Get $100 in Bonus Bets for Seahawks vs LionsBet on Seahawks vs. Lions with Fanatics Sportsbook for a chance to get up to $1,000 in bonus bets. No promo code needed!
Read more »
Disney World hikes prices for its annual passes by up to $100If you’re a regular visitor to Walt Disney World, your annual passes are going to cost you more. The resort in Orlando, Florida, hiked prices on all four levels of its passes on Wednesday.
Read more »
Disney World hikes prices for its annual passes by up to $100If you're a regular visitor to Walt Disney World, your annual passes are going to cost you more. The resort in Orlando, Florida, hiked prices on all four levels of its passes on Wednesday.
Read more »
This Vitamix is cheaper than it was on Prime Day — save $100 on it ASAPA puree-ly amazing steal.
Read more »
13 Loose Free People Sweaters Under $100Check out our list of loose and expensive-looking Free People sweaters that start at just $50 — top picks only!
Read more »
New Jersey Eliminates $100 Million in Medical Debt for Tens of ThousandsGovernor Phil Murphy announced Tuesday that New Jersey is eliminating $100 million in medical debt for tens of thousands of residents through a partnership with the nonprofit Undue Medical Debt. The initiative utilizes leftover federal pandemic funds to retire medical debt and provide relief to struggling families.
Read more »