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Rising investor gold demand offsets lower jewellery buying in Q3, says industry body

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LONDON, Oct 30 - Global gold demand excluding over-the-counter trading was steady year-on-year at 1,176.5 metric tons in the third quarter as higher investment activity offset reduced jewellery consumption, the World Gold Council said on Wednesday.

"Resurgent professional flows combined with solid bar and coin investment will offset weaker consumer demand and slower central bank buying" for gold in 2024, the WGC, an industry body whose members are global gold miners, said in a quarterly report.

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