Gold demand up 8%

THE World Bank’s latest update says that gold demand was 1123 tonnes in the second quarter, up 8% year-on-year.
Gold demand up 8% Gold demand up 8% Gold demand up 8% Gold demand up 8% Gold demand up 8%

Staff Reporter

"First half demand jumped to a three-year high of 2181.7t, largely due to record-breaking central bank purchases," the WGC said.
 
Central bank buying and healthy exchange-traded fund inflows were the driving forces behind gold demand throughout the first half of 2019. Growth in first-half jewellery demand was largely the product of a more positive environment for Indian consumers, the WGC said.
 
"Shifts in bar and coin investment were very much price-related: as the gold price powered its way to multi-year highs, profit-taking kicked in and retail investment all but dried up. The technology sector reduced its usage of gold due to challenging global conditions, although the outlook is for this element of demand to establish something of a floor over coming quarters.
 
"Solid growth in both mine production and recycling fed into a 2% increase in total first-half gold supply," the WGC said.
 
The full report may be found here: https://bit.ly/2yqPHwv
 

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