Gold investment demand continues to drive markets as physical demand continues to fall – Refinitiv

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 […]

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