Gold ETFs and similar products witnessed inflows of 77.6 tonnes in the third quarter of 2011, which was 58% above year-earlier levels of 49.1 tonnes.
According to the World Gold Council's Gold Demand Trends report for Q3 2011, total gold demand in the third quarter of 2011 reached 1,053.9 tonnes; an increase of 6% compared to the same period last year. Overall gold demand for the quarter equates to US$57.7bn, an all-time high in value terms. The increase was driven by investment demand which rose 33% year-on-year to 468.1 tonnes, generating record quarterly demand of US$25.6bn. Investment demand in Europe reached a record quarterly value of €4.6bn, equating to 118.1 tonnes - a year-on-year increase of 135%. The report said th...
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