Gold ETFs contributed 95 tonnes, representing the first positive quarter since 1Q2022. Bar and coin demand fell by 9%, but total demand year-to-date remains steady at 859 tonnes compared to the 10-year average of 774 tonnes.
Total gold demand has increased 5% y-o-y to 1,313 tonnes, a record third quarter, with total demand exceeding US$100 billion ($132 billion) for the first time on record, The World Gold Council noted in its flagship Gold Demands Trend (GDT) report in 3Q2024.
According to the report, the London Bullion Market Association (LBMA) (PM) gold price continued to reach successive record highs in 3Q2024. The average price for this quarter grew 28% y-o-y at US$2,474 per ounce.
