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U.S. ETFs drive gold demand and trading volumes in Q3, price forecasts revised higher – World Gold Council
U.S. gold demand rose 58% compared to Q3 2024, while North American ETF inflows reached $16bn and trading volumes surged, according to the Q3 Gold Demand Trends report from the World Gold Council (WGC). “Overall gold demand in the US rebounded in the third quarter, in which demand of 186t grew 58% y/y,” WGC analysts wrote. “Consumer demand (jewellery + bar and coin) of 32t fell 33% y/y. Gold jewellery consumption continued the downward trend that started back in Q2’22, falling 12% y/y to 25t. Jewellery spend, in value terms, fell 12% q/q to US$2.7bn, but grew 23% y/y to mark its ninth consecutive y/y ... (full story)