The World Gold Council (WGC) released its report on Thursday. Global demand for gold increased 8% in the third quarter, after a 12% drop in the second quarter. The increase was mainly driven by higher demand for bars, coins and jewellery.
Demand for gold totalled 1,120.9 tons in the third quarter, up 8% from the same period in 2014.
Global demand for jewellery climbed by 6% in the third quarter to 631.9 tons, up from 594.1 tons a year ago. Jewellery makes up about 60% of global gold consumption.
According to the World Gold Council, annual gold demand is expected to be between 4,200 tons and 4,300 tons.
Demand in China in 2015 is expected to be 900-1,000 tons, while demand in India is expected to be 850-950 tons.