Editor’s Note: Get caught up in minutes with our speedy summary of today’s must-read news stories and expert opinions that moved the precious metals and financial markets. Sign up here! (Kitco News) – Investment demand, in an environment of low interest rates and unending uncertainty and turmoil, remains the singular driving force in the gold market, according to analysts at Refinitiv.
In a report last week, the research firm said that physical gold demand fell by 562 tonnes in the third quarter, down 30% compared to the third quarter of 2019. However, dismal physical demand has had little impact on prices as gold pushed to an all-time high above $2,000 in early August.
Commodity analysts at Refinitiv said that gold prices averaged $1,909 an ounce between July and September, up 27% from the second quarter and up 30% from last year.
Although physical demand is expected to continue to struggle, analysts at […]
October 28, 2020 (updated October 28, 2020) Published by StockMan