Falling Demand From India Drags Gold Lower

Global demand for gold slumped in the July-September period as bullion-backed exchange traded funds (ETFs) continued to suffer sizable outflows and Indian consumption was heavily dampened by government restrictions, the World Gold Council said.

The third quarter saw a 21 percent on-year contraction in gold demand to 869 tons, according to the WGC’s quarterly Global Demand Trends report published on Thursday.

Gold-backed ETFs saw net outflows of 119 tons during the quarter, as investors continued to scale back their exposure to the precious metal in anticipation of the Federal Reserve winding down its monetary stimulus.


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Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu