Gold demand rises 8% in third quarter - MarketWatch: "Global gold demand rose 8% in the third quarter, boosted by buying from retail investors in key regions scooping up cheaper metal after it fell in price, said the World Gold Council Thursday.
Consumption of the precious metal was 1,120.9 metric tons between July and September this year, up from 1,041.9 tons during the same period in 2014, according to the industry body's Gold Demand Trends report.
The extra buying, though, did little to buoy the price of gold which fell around 2% in that quarter. This market has been more influenced by speculation over when the next U.S. interest rate rise will come. Rate rises make gold less competitive against yield bearing securities, such as Treasury's, while boosting the greenback and making this dollar-denominated commodity more expensive for most of its buyers.
Jewelry demand, which makes up more than 60% of total gold demand, was up 6% in the third quarter to 631.9 tons--it's highest level for that quarter since 2008."
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