GOLD

05 May

Gold remains resilient amid heightened global uncertainty

Business Correspondent0 CommentsBusiness, IndiaGOLD, World Gold Council

The global gold market saw a solid start to 2022 with first-quarter demand (excluding OTC) up 34% year-on-year, thanks to strong ETF flows, reflecting gold’s status as a safe-haven investment during times of geopolitical and economic uncertainty.Geopolitical crises weighed heavily on the global economy and reinvigorated investor interest, pushing the gold price briefly to US$2,070/oz in March. The World Gold Council’s latest Gold Demand Trends Report reveals gold ETFs had their strongest quarterly inflows of 269t since Q3 2020. Gold bar and coin demand were 11% above its five-year average at 282t. However, renewed lockdowns in China and high prices…

31 Oct

Gold demand down as ETF outflows outweigh strength in other sectors

editor0 CommentsBusinessETF, GOLD

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…