Gold ETFs See Strong Demand In Volatile October After Robust Global Gold Demand In Q3

• Gold ETFs saw inflows in volatile October as investors again hedged risk
  
• Gold ETFs see demand of 16.5 tonnes(t) in October to total of 2,346t, the equivalent of US$1B in inflows
  
• Global gold demand was robust in Q3 – demand of 964.3 tonnes – plus 6.2t yoy
  
• Strong central bank and store of value coin and bar demand offset the gold ETF outflows in Q3
  
• Central bank gold reserves grew 148.4t in Q3, up 22% yoy
  
• Gold coin and bar investors took advantage of the price dip and demand for gold coins and bars rose 28% yoy

According to the World Gold Council, gold demand was 964.3t in Q3 which was 6.2t higher y-o-y.

Gold coin and bar demand jumped 28% to 298.1t as investors and store of value buyers took advantage of the lower gold price and sought protection against currency weakness and tumbling stock markets.

Gold Demand, Jul 2017 - Nov 2018

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Central bank gold buying was robust again as a growing number of central bank buyers saw demand in this sector rise 22% y-o-y to 148.4t, the highest level of quarterly net purchases since 2015.

The 13% rise in global gold demand offset large ETF outflows, primarily from the U.S. market.

However, those gold ETF outflows reversed in a very volatile October and global gold ETFs and similar products rose in October by 16.5 tonnes(t) to 2,346t which was the equivalent to US$1.0bn in inflows

Positive inflows in gold-backed ETFs as investors hedge risk (Gold.org)

Gold Demand Trends Q3 2018 (Gold.org)

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