Third-quarter global gold investment falls by more than half year-on-year, new report finds

Total global gold demand posted a year-over-year decline for the third quarter, with investment in the precious metal down by more than 50% — led by a quarterly outflow in gold-backed exchange-traded funds — according to a report from the World Gold Council released Wednesday evening.

In the third quarter, world gold demand, excluding over-the-counter trades, totaled 831 metric tons, down 7% from the same period a year ago, the report said. The World Gold Council said the decline was “almost exclusively driven by ETFs,” which…