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Gold demands up 7% in during Q3

21
Nov '05
World Gold Council in its recent assessment of the supply and demand dynamics in the gold market announced that that total end-user gold consumption in the third quarter of 2005 increased 7.5 per cent over the same period last year, according to a Mineweb report.

Using figures compiled by GFMS Ltd, the council reported that total end-user consumption for the third quarter registered an 18 per cent increase in dollar terms over 2004 at 838 tonnes.

The third quarter, which is typically the weakest of the year, ran 11.5 per cent below the second quarter.

Jewellery growth rates showed signs of a slowdown after a very strong first half, rising 21 per cent on Q3 2004 and increasing 11 per cent in dollar terms.

The Middle East recorded double-digit growth and China posted a 9 per cent year-on-year increase.

Indian demand did not show any growth over Q3 2004 owing to a very strong first half.

Cumulative demand was up 7 per cent in tonnage terms and 42 per cent in rupee terms over the first three quarters of 2004.

Gem & Jewellery Export Promotion Council


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