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Gold demand fell 7% y/y in third quarter, primarily owing to outflows from ETFs

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Gold demand fell 7% year-on-year and 13% quarter-on-quarter to 831 t in the third quarter, primarily owing to outflows from gold-backed exchange-traded funds (ETFs), the World Gold Council’s (WGC’s) latest ‘Gold Demand Trends’ (GDT) report, shows. Net gold ETF sales were relatively small at 27 t, but when compared with the pandemic-induced buying surge of a year earlier, the council says it was enough to place overall gold demand into a year-on-year decline, despite demand increasing in all other sectors.

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