Gold News: World Demand Rises in Q3

Gold bars, gold chart
Written by Mike Hammer

Reports are coming out for the latest quarter gold market.  Initial reading indicates increases on both the demand AND supply sides. Retail demand in India looks to be up about 10% in early figures, a little less than anticipated, which we would put down to rising prices in local currency.

Two specifically interesting bits: Iranian demand continues to be high, about 21 tonnes bought up in local markets while the country works through the repercussions of sanctions from the West. Prices dropped in the UAE, which might lead to increased demand there. And, mines contributed 875 tonnes in Q3 for a sixth consecutive quarter of increases.  If we are at peak gold, then apparently we’re still at the peak…  Today’s featured article gives LOTS of detail into the bits and pieces that together make up our gold markets.

Question of the day: Do you think that we’re actually at peak gold, or can producers continue to produce at these levels for many years to come?  Sound off in the Comments below…

Continue reading at Economic Times

About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as a continuing theme. Mike graduated with a business degree, then worked with Macy's. After Macy's he spent a summer trading his own account, which taught him a lot about trading in general and markets in particular. Trading through the Black Monday and the Crash of 1987 showed him how most people are unprepared for upheavals in their trading. He then joined a well-known financial planning firm as a financial advisor, helping regular people understand their finances and meet their life goals.

Then came the usual story - Mike met and married the lady of his dreams. They moved to upstate New York, where he worked first for a small manufacturing consulting company, then a major university. While loving the work and the higher-education atmosphere, Mike missed the world of finance. Eventually, he signed up for stock trading coaching with the Adam Mesh Trading Group, to learn from people who understood modern markets. Within a year, Adam asked Mike to become a stock trading coach.

Since then, Mike has trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to conference calls across the Adam Mesh community. Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keep him in touch with "the student mindset". Mike closely follows the gold, energy, and financial sectors. His motto is "Plan your trade, then trade your plan!"

Leave a Comment