Editor’s Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today’s must-read news and expert opinions. Sign up here! ( Kitco News ) – Investment demand continues to dominate the gold market as the World Gold Council (WGC) reports a second consecutive quarterly drop in physical demand.
In its quarterly demand trends report, published Thursday, the WGC said that physical gold demand totaled 892.3 tonnes in the first quarter. The report said that physical demand saw an annual drop of 19%, compared to the second-quarter decline of 11%.
In the first nine months of the year, physical gold demand has dropped 10%, compared to the same time period in 2019, the report said.
The one pillar of strength in the gold market remains investment demand — particularly growing holdings in gold-backed exchange-traded products. The WGC said that gold holdings […]
October 29, 2020 (updated October 29, 2020) Published by StockMan