German Gold Investment up 146% in Q3

GERMAN Gold Investment demand more than doubled in the third quarter of 2011 compared with the same period last year, figures published today by the World Gold Council show.

German demand for Gold Bars and coins in July, August and September totalled 59.3 tonnes – a 146% increase on Q3 2010. In value terms, German Gold Investment for the quarter came to $3.2 billion – up 241% from a year earlier.

“The increase was primarily the result of large-scale investors increasing their exposure to gold by building on their existing holdings,” says the WGC’s latest Gold Demand Trends.

Worldwide demand for Gold Investment products – defined as demand for gold coins and bars as well as Gold ETFs and similar products – grew to 468.1 tonnes of gold in the third quarter of 2011, This represents a 33% increase in Gold Investment demand compared to the same period last year.

In value terms, worldwide Gold Investment demand was $25.6 billion in Q3 2011 – an all-time quarterly record, and an 84% increase over Q3 2010.

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