23
October
Gold investment demand rises, jewelry weak in Q3
23 October 2009 Reuters
Demand from gold investment products and exchange traded funds grew in the third quarter despite weak jewelry demand, a report by World Gold Council showed.
Total volume of gold bullion bought via ETFs rose by 38.5 tonnes to a record 1,732.5 tonnes for the quarter, the industry-sponsored WGC said in an October report.
"We saw an improvement in risk appetite during the quarter, which also put more downward pressure on the dollar as investors sold U.S. Treasuries in favor of higher yielding assets overseas, further increasing demand for gold as a dollar hedge," said Natalie Dempster, WGC's head of investment, North America.
http://www.reuters.com/article/marketsNews/idUSN2244791320091022
