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Investors moved into the imitation coin market, up 59%, whilst jewellery increased due to re-stocking ahead of the Indian wedding and festival season. Indians appear to have acclimatised to recent price trends and hav..

15 Nov 2012

LONDON (Commodity Online): Gold demand in India has shown signs of recovery having risen 9% to 223.1 tons in Q3 2012 compared to 204.8 tons in Q3 2011, according to World Gold Council (WGC). In its latest Gold Demand Trends Report, WGC said that both jewellery and investment demand have risen in India with jewellery demand up 7% at 136 tons while investment demand rose by 12% to 87.0 tons.

Investors moved into the imitation coin market, up 59%, whilst jewellery increased due to re-stocking ahead of the Indian wedding and festival season. Indians appear to have acclimatised to recent price trends and have been buying into a rising market.

China
-In China demand fell 8% to 176.8t in Q3 2012 from 191.2t in Q3 2011 due to falls in jewellery of 6% and investment of 12% mainly as a result of negative sentiment surrounding China's slowing economy. Jewellery demand was 123.8t in Q3 2012, due to a decline in purchases of 18k pieces and a notable slowdown in the expansion of the retail network, as stock-building reduced. Investment demand was down to 53.0t Demand this quarter remains 19% above the longer term average.

-Central banks bought 97.6t in the quarter. In six out of the last seven quarters, central bank demand has been around 100t, which is a sharp increase from as recently as 2010. The year to date figure for central bank buying is up 9%.


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