WORLD GOLD COUNCIL GOLD DEMAND TRENDS: 3Q 2016

WORLD GOLD COUNCIL GOLD DEMAND TRENDS: 3Q 2016

Global gold demand amounted to 993t in Q3 2016 (-10%), as high gold prices discouraged consumers. ETPs were the only bright spot during the quarter, with 146t of inflows helping to counterbalance weak demand elsewhere, notably in jewellery (-21%), bars and coins (-36%) and purchases by central banks (-51%). Total Q3 supply was up 4% to 1,173t (from 1,127t in Q3 2015). Recycling was the primary driver of this growth, up 30% year-on-year as the higher price encouraged consumers to sell some of their existing gold holdings. Mine production - virtually unchanged year-on-year (-0.5%) – continued to plateau, while Q3 saw net de-hedging (of 15t) for the first time in four quarters.

Gold demand and supply statistics for Q3 2016:

Overall demand for Q3 2016 decreased by 10% to 992.8t, down from 1,104.8t in Q3 2015.

Global investment demand was 335.7t, up 44% from 232.4t in the same period last year.

Global jewelry demand fell 21% to 493.1t versus 621.6t in the third quarter of 2015.

Central bank demand fell 51% to 81.7t in Q3 2016, compared to 168t in the same period last year

Demand in the technology sector fell a small 1% to 82.4t in Q2 2016.

Total supply was up 4% to 1,173t in Q3 2016, from 1,127t in Q3 2015.

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