{"id":47384,"date":"2024-10-30T16:49:37","date_gmt":"2024-10-30T16:49:37","guid":{"rendered":"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-demand-worldwide-rises-to-record-high-of-over-100b-in-q3"},"modified":"2024-10-30T17:19:29","modified_gmt":"2024-10-30T17:19:29","slug":"gold-demand-worldwide-rises-to-record-high-of-over-100b-in-q3","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-demand-worldwide-rises-to-record-high-of-over-100b-in-q3","title":{"rendered":"Gold demand worldwide rises to record high of over $100B in Q3"},"content":{"rendered":"

Africa-Press – Mauritius. <\/strong><\/span>Global gold demand rose 5% on an annual basis in the third quarter of the year to a little over 1,300 tons, coming at over $100 billion for the first time, the World Gold Council said on Wednesday.<\/p>\n

While global demand this quarter saw a record third quarter increase, global investment demand \u201cmore than doubled\u201d to 364 tons due to a shift in demand by mostly Western investors for gold exchange-traded funds (EFTs).<\/p>\n

A fear of missing out factor drove increased demand for the third quarter as investor appetite rose and investors sought the perceived safe haven of gold, while the uncertain atmosphere of US politics continued, with the presidential elections right around the corner and escalating geopolitical conflicts in the Middle East.<\/p>\n

Gold EFTs worldwide contributed 95 tons to the investment demand, rising for the first time since the first quarter of 2022, while bar and coin demand fell 9%.<\/p>\n

The World Gold Council said that central banks\u2019 gold purchases slowed down in the third quarter but still remained strong at 186 tons and the year-to-date central bank demand amounted to 694 tons.<\/p>\n

Gold prices saw record highs in the third quarter at an average of $2,474 per Troy ounce, which impeded gold jewelry demand worldwide, as total jewelry consumption volume fell 12% year-on-year, and a rise of 13% in value terms indicated comfortable spending for lower amounts of gold products.<\/p>\n

Gold demand in technology climbed 7% on an annual basis due to progress in artificial intelligence (AI).<\/p>\n

Meanwhile, the total gold supply climbed 5% compared to the same quarter last year with a 6% rise in mine production and 11% in recycling, the World Gold Council said.<\/p>\n

For More News And Analysis About Mauritius Follow Africa-Press<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Mauritius. Global gold demand rose 5% on an annual basis in the third quarter of the year to a little over 1,300 tons, coming at over $100 billion for the first time, the World Gold Council said on Wednesday. While global demand this quarter saw a record third quarter increase, global investment demand […]<\/p>\n","protected":false},"author":84,"featured_media":47383,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[3841,241,4767,3842],"class_list":["post-47384","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-gold-demand","tag-mauritius","tag-q3","tag-world-gold-council"],"yoast_head":"\nGold demand worldwide rises to record high of over $100B in Q3 - Mauritius<\/title>\n<meta name=\"description\" content=\"Global gold demand rose 5% on an annual basis in the third quarter of the year to a little over 1,300 tons, coming at ov ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-demand-worldwide-rises-to-record-high-of-over-100b-in-q3\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Gold demand worldwide rises to record high of over $100B in Q3\" \/>\n<meta property=\"og:description\" content=\"Global gold demand rose 5% on an annual basis in the third quarter of the year to a little over 1,300 tons, coming at ov ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-demand-worldwide-rises-to-record-high-of-over-100b-in-q3\" \/>\n<meta property=\"og:site_name\" content=\"Mauritius\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-30T16:49:37+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-30T17:19:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2024\/10\/sm_1730296087.405223.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"864\" \/>\n\t<meta property=\"og:image:height\" content=\"486\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-demand-worldwide-rises-to-record-high-of-over-100b-in-q3#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-demand-worldwide-rises-to-record-high-of-over-100b-in-q3\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Gold demand worldwide rises to record high of over $100B in Q3\",\"datePublished\":\"2024-10-30T16:49:37+00:00\",\"dateModified\":\"2024-10-30T17:19:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-demand-worldwide-rises-to-record-high-of-over-100b-in-q3\"},\"wordCount\":287,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-demand-worldwide-rises-to-record-high-of-over-100b-in-q3#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/mauritius\/sites\/61\/2024\/10\/sm_1730296087.405223.jpg\",\"keywords\":[\"gold demand\",\"Mauritius\",\"Q3\",\"World Gold Council\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-demand-worldwide-rises-to-record-high-of-over-100b-in-q3#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-demand-worldwide-rises-to-record-high-of-over-100b-in-q3\",\"url\":\"https:\/\/www.africa-press.net\/mauritius\/all-news\/gold-demand-worldwide-rises-to-record-high-of-over-100b-in-q3\",\"name\":\"Gold demand worldwide rises to record high of over $100B in Q3 - 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