Gold demand continues to sink in Q3
Weak inflation across advanced economies means little need for the disaster hedge
The total investment demand for gold (including jewelry) fell sharply during the 3rd quarter, the World Gold Council reported today. That is evidence of continued confidence in national currencies.
With headline inflation running at 2.2% in the U.S., 1.4% in Europe, and 0.7% in Japan, respectively, institutions as well as individuals have less need for gold as a disaster hedge.