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…
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