Gold was flat again today despite data from the World Gold Council showing demand rose in the third quarter.
Overall, demand rose 8% in the period, with demand from investors leading the way, up 27% from the previous year.
Bar and coin demand shot up to 295.7 tonnes (t) for the period, the highest level for nearly two years.
This was a third above the rather weak third quarter demand seen last year and 46% up on the previous quarter.
Similarly, demand for gold jewellery accelerated during what is traditionally a slow time of year for jewellery sales.
Jewellery demand rose 6% year on year, the strongest third quarter since the financial crisis, with the biggest increase coming from India.
“Having trudged a little wearily through the first six months of the year, the gold market started the third quarter with a jolt,” the council said.
Central bank buying remains strong, the council said, with banks accumulating “an impressive 175.0t of gold in the third quarter, the second highest quarter of net purchases on record.”
Russia was again the largest single buyer, with 77t of gold added to its reserves.
Today gold nudged US$4 lower to US$1,082 while silver was 1.1% higher to US$14.42 and platinum eased another US$3 to US$878.
Randgold Resources down 12p to 3,933p
Fresnillo down 13p to 675p
Anglo American down 40p to 450p