The World Gold Council indicated in its report, on Wednesday, that demand for the precious metal reached 1,313 tons, supported by stronger investment flows from Western countries.
The council said that the increase in demand for the yellow metal came despite its prices recording historic peaks during the three months ending last September.
During the first nine months of this year, gold prices rose 29 percent, driven by a reduction Interest rates Global growth, escalating geopolitical tensions, and increased interest from central banks.
Council data shows that global demand for gold It also rose after strong demand from outside the stock exchanges, that is, from individuals who found gold as a currently viable investment tool, and to protect their money from any risks.
He expected gold to witness an increase in demand for bullion, with geopolitical uncertainty, especially surrounding the US presidential elections next week, which increases the reasons for investors to seek to keep the haven asset.
On Wednesday, spot gold prices jumped to a new record high, with the US elections scheduled for November 5 approaching.