India gold demand rises 9% in Q3: WGC
India's consumer gold demand remains down 24 percent in the first three-quarters of the year, however, and is unlikely to record a net increase in 2012 as a whole, the WGC said.
JEWELLERY, BAR DEMAND ABATES
Global jewellery consumption dipped 2 percent to 448.8 tonnes, while coins and bar demand fell 30 percent. European investors, particularly in German-speaking markets, accounted for half of the 128.1-tonne decrease in bar and coin demand. European investment is lower than it's been for some time in the retail market. You're not seeing that insurance demand and safe asset demand from Germany and Switzerland that we were seeing last year, Grubb said.
Coin and bar demand also fell by 52 percent in the United States to 10.5 tonnes, and by 66 percent in Turkey to 7.9 tonnes. Indonesia, Taiwan and Thailand also saw large declines.
Bullion demand to back gold exchange-traded funds - which issue securities backed by physical metal - jumped to 136 tonnes from 87.4 tonnes, however.
Central banks continued to diversify their reserves into gold in the third quarter, but buying was down by nearly a third year-on-year. Official sector demand reached 97.6 tonnes last quarter, down from 140.8 tonnes a year before.
Grubb said in the full year demand was likely to outstrip
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