ETF

World Gold Council has issued its third quarter report of 2021, which shows demand for gold* fell 7% year-on-year and 13% quarter-on-quarter to 831t, primarily due to outflows from gold-backed exchange-traded funds (gold ETFs).Net gold ETF sales were relatively small (27t), but when compared to the pandemic-induced buying surge of a year earlier, this was enough to place overall gold demand into a year-on-year decline, despite demand increasing in all other sectors. The gold price averaged US$1,790/oz throughout the quarter – down from Q3 2020’s all-time USD high, but above its 3yr, 5yr and 10yr averages. Louise Street, Senior Markets…