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Weak quarter in India sees gold demand slip 9%

Alistair Hewitt, Head of Market Intelligence at the World Gold Council, tells Proactive's Andrew Scott that a weak quarter in India was the main reason for the year-on-year decline in global demand - down from 495 tonnes in Q3 2016 to 479 tonnes in Q3 2017.

Interestingly Hewitt says volumes of gold used in technology increased for the fourth consecutive quarter.

He says strong demand for LEDs and continued growth in the use of 3D sensors in new smartphones boosted demand by 2%.

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