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Gold ETF sales offset record demand for coins and bars
Wasn't that why the World Gold Council established the GLD exchange-traded fund -- to create a bullion vehicle for shorting and gold price suppression?
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Global Gold Demand Hits More Than Two-Year High in Third Quarter, World Gold Council Says
By Jan Harvey
Reuters
Thursday, November 12, 2015
LONDON -- Global gold demand hit its highest in more than two years in the third quarter as July's price drop boosted buying of jewellery, coins, and bars, the World Gold Council said on Thursday.
Overall demand reached 1,121 tonnes in the last quarter, up 8 percent year on year to its highest since the second quarter of 2013. The rise was tempered by increased outflows from bullion-backed exchange-traded funds, however.
Bar and coin buying more than tripled in the United States to a five-year high of 32.7 tonnes, and rose 70 percent in China and 35 percent in Europe. That followed a more than 6 percent slide in spot gold prices in July, their biggest monthly drop in two years. ...
However, outflows from gold ETFs -- popular investment vehicles that issue securities backed by physical metal -- increased by 24 tonnes year on year to 65.9 tonnes, helping to offset the rise in demand elsewhere. ...
... For the remainder of the report:
http://www.reuters.com/article/2015/11/12/us-gold-wgc-report-idUSKCN0T11...
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