Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

Mumbai, <keyword id="19895063" type="General" weightage="20" keywordseo="india" source="keywords">India</keyword>'s gold demand witnessed on-year decline of 3 per cent at 747.5 tonnes in 2023, and going ahead the spurt in demand could be anywhere between 800-900 tonnes, if prices hold out and are not significantly volatile, the <keyword id="20195223" type="General" weightage="20" keywordseo="world-gold-council" source="keywords">World Gold Council</keyword> said in a report. The country's total gold demand stood at 774.1 tonnes in 2022, according to the World Gold Council (<keyword id="20256712" type="General" weightage="20" keywordseo="wgc" source="keywords">WGC</keyword>) Gold Demand Trends report 2023. "India's gold demand in 2023 declined by 3 per cent to 747.5 tonnes, strongly influenced by rising gold prices. Although consumer interest remained high, it lagged trade sentiment. October's price correction during <keyword id="20023931" type="General" weightage="20" keywordseo="navratri" source="keywords">Navratri</keyword> stimulated a robust consumer response, boosting Diwali sales in November. "However, demand declined in December as gold prices resumed an upward trend, resulting in a 9 per cent drop in fourth quarter jewellery demand compared to the same period of 2022," <keyword id="20399154" type="General" weightage="20" keywordseo="wgc-regional" source="keywords">WGC Regional</keyword> CEO, India, Somasundaram PR told PTI. Price of gold was volatile throughout 2023, with the yellow metal reaching a new high of Rs 61,845 per 10 gm on May 4 in the domestic market and USD 2,083 an ounce in global markets, and this trend continued with the precious metal reaching another high of Rs 61,914 per 10 grams in November 16. Looking forward to 2024, India's gold demand should benefit from ongoing positive economic conditions and if the prices hold out are not significantly volatile there is likely to be a big spurt in demand which could be anywhere between 800-900 tonnes, he said. "The subdued demand range of 700-800 tonnes since 2019 attributable to continuous rise in prices, increase in duties, stock market outperformance, near-term elections spending impact and acceptance of elevated price levels, suggest the potential for a spurt in demand in the near future. However, any short-term impediments to higher demand could arise from another round of sharp price hikes and volatility triggered by global factors," he added. The total jewellery demand in India dropped by 6 per cent to 562.3 tonnes in 2023, compared to 600.6 tonnes in the previous year, the report stated. Meanwhile, the total gold investment demand in the country grew by 7 per cent to 185.2 tonnes, compared to 173.6 tonnes in the previous year, the WGC report said. "Bar and coin investment in India rebounded, growing by 7 per cent to 185 tonnes year-on-year. The fourth quarter demand touched 67 tonnes, 64 per cent above the five-year quarterly average. "The correction in gold prices led to some robust investment responses in third and fourth quarters, supported by increased interest from physically backed gold ETF investors, setting total holdings in Indian-listed products to a record 42 tonnes by year-end," Somasundaram said. He said that recycling was 20 per cent higher due to low and supportive higher prices but at 117 tonnes, could be considered the normative expected level. Total gold imported to India in 2023 was 780.7 tonnes, up by 20 per cent compared to 650.7 tonnes in 2022, according to the report. "Net gold imports surged by 20 per cent to 780.7 tonnes in 2023, primarily due to substantial inventory building by the trade. "In 2024, gold imports are likely to be higher than the demand. The various Free Trade Agreements (FTAs) India has inked with many countries are expected to boost gold imports further this year," noted Somasundaram.

India's gold demand dips 3% in 2023 on high prices: World Gold Council

The demand for <keyword id="18712" type="General" weightage="20" keywordseo="gold" source="Orion">gold</keyword> went up by 14 per cent to 191.7 ton in India during the third quarter of this calendar year, said the <keyword id="113718" type="General" weightage="20" keywordseo="world-gold-council" source="Orion">World Gold Council</keyword> (WGC) on Tuesday. According to the WGC, the gold demand in India was at 191.7 ton (value ₹85,010 crore) during Q3 2022 as against 168 ton (₹71,630 crore) of the corresponding period in 2021. The jewellery demand for the period under review was at 146.2 ton up from 125.1 ton the previous year. On the other hand, the total investment demand for Q3 2022 at 45.4 ton in comparison to 42.9 ton in Q3 2021. The recycled gold showed a downward trend in Q3 2022 with 16 ton as compared to 20.7 ton in Q3 2021. For the nine months of 2022 the gold demand stood at 497.8 ton (jewellery 380.7 ton, investment 117.1 ton) as compared to 453.5 ton (jewellery 345.9 ton investment 107.6 ton "India's total gold demand in Q3 2022 at 191.7 tonnes is a 14 per cent increase over last year. This reflects better-than expected performance and strong consumer interest, helping year-to-date demand return to pre-Covid levels," said Somasundaram P.R., Regional CEO, India, WGC. Credit expansion added impetus to this demand, with bank loan growth touching a nine-year high by quarter-end. He said the recovery in gold jewellery demand was primarily driven by urban India, more specifically Southern parts, underpinned by robust economic activities with a 17 per cent y-o-y increase in tonnage terms. Rural demand however, was impacted by seasonal effect (monsoons) and inflation. On the other hand, Indian bar and coin demand also saw a six per cent y-o-y improvement to 45.4 ton, he added. "Looking ahead, Indian retail investment is likely to continue to benefit from safe-haven demand amid rising interest rates and a weakening rupee. There's optimism in the overall outlook for the rest of the year with weddings and Diwali demand in Q4, but it is unlikely to match last year's record-breaking Q4. Our gold demand estimate for the full year is around 750-800 ton similar to last year," Somasundaram said. At the global level, WGC said the demand for the yellow metal (excluding OTC) in the third quarter of 2022 hit 1,181 ton, up 28 per cent year-on-year. Strong demand pushed the year-to-date total to its pre-Covid levels. Gold demand was bolstered by the consumers and central banks, although there was a notable contraction in investment demand. According to WGC, investment was down 47 per cent year-on-year, as exchange traded fund (ETF) investors responded to a challenging combination of markedly higher interest rates and a strong US dollar with significant outflows of 227 ton. These movements, alongside weakness in OTC demand and negative sentiment in futures markets, hampered gold's price performance -- contributing to an eight per cent quarter-on-quarter drop in the price during Q3 2022. Just as consumer gold demand firmed, central bank buying picked up significantly with estimated record purchases of nearly 400 t in the third quarter, said WGC. "Looking ahead, we anticipate central bank buying and retail investment to remain strong and that could help offset potential declines in OTC and ETF investment that may prevail if the dollar strength persists. We also expect to see jewellery demand continue to perform strongly in some regions such as India and Southeast Asia, while the technology sector will likely witness further decline in the face of economic deceleration," Louise Street, Senior Markets Analyst said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/rbi-to-launch-the-nations-first-digital-rupee-pilot-project-for-the-wholesale-segment-today/articleshow/95221874.cms">RBI to launch the nation's first digital rupee pilot project for the wholesale segment today</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/icertis-raises-150-million-to-boost-contract-lifecycle-management-business/articleshow/95209273.cms">Icertis raises $150 million to boost contract lifecycle management business</a>

Gold demand went up by 14% in Q3: World Gold Council

Global <keyword id="18712" type="General" weightage="20" keywordseo="gold" source="Orion">gold</keyword> demand declined by 13 per cent year-on-year to 1,080.8 tonnes during the January-March quarter of this year, mainly due to outflows from European-listed <keyword id="982068" type="General" weightage="20" keywordseo="exchange-traded-fund" source="Orion">exchange-traded fund</keyword> (<keyword id="6357062" type="General" weightage="20" keywordseo="etf" source="Orion">ETF</keyword>) products, according to the World Gold Council (<keyword id="142987" type="General" weightage="20" keywordseo="wgc" source="Orion">WGC</keyword>). The total gold demand stood at 1,238.5 tonnes during the first quarter of 2022, WGC's Gold Demand Trends Q1 2023 stated. Holdings of global gold ETFs fell during Q1, with 29 tonnes of outflows in January and February equivalent to a USD 1.5 billion in outflow, the report said, adding that the majority of outflows came from the European-listed products. However, North American-listed ETFs, as well as those listed in other regions, witnessed a recovery in inflows during the first quarter of 2023, it added. "The mixed picture for quarter one highlights how gold's diverse sources of demand underpin its role and performance as a global asset," WGC Senior Markets Analyst Louise Street said. "Growth in some regions offset weakness in others as different economic forces and demand drivers played out in the global gold market. One commonality was that different types of investors looked to gold as a store of value in uncertain times," Street added. She, however, noted that against the backdrop of turmoil in the banking sector, ongoing geopolitical tensions and a challenging economic environment, gold's role as a safe haven asset has come to the fore. Moreover, it is likely that investment demand will grow this year, especially with waning headwinds from the strong US dollar and interest rate hikes, she said. She further noted that positive demand for gold ETFs has continued in the second quarter so far, and the looming threat of developed market recession may be the trigger for inflows to accelerate later in the year. "Central bank buying is likely to remain strong and will be a cornerstone of demand throughout 2023, even if at lower levels than the record highs seen last year," she added. Central banks have helped boost demand adding 228 tonnes to global reserves, a quarter-one record high in this data series, compared to 83 tonnes in the same period last year, said the report. "<keyword id="17331412" type="General" weightage="20" keywordseo="central-banks-of-singapore" source="Orion">Central banks of Singapore</keyword>, China and Turkey were the top buyers, while the Reserve Bank of India also added 7 tonnes to its reserves during the January-March quarter," WGC Regional CEO, India, Somasundaram PR told PTI. On the supply side, there was a slight increase in the first quarter to 1,174 tonnes, with marginal 2 per cent growth in mine production and a 5 per cent uptick in recycling driven by the higher gold price. The report further noted that bar and coin investment strengthened 5 per cent year-on-year to 302.4 tonnes compared to 287.7 tonnes in the same period of 2022, although there were notable shifts in key markets. The US bar and coin demand hit 32 tonnes in the first quarter, the highest quarterly level since 2010, and was driven primarily by recession fears and a flight to safety amid the banking turmoil, it said. This increase helped offset weakness in Europe and particularly Germany where there was a 73 per cent drop in demand, they stated. Meanwhile, jewellery performance was relatively flat in the first quarter at 477.9 tonnes compared to 475.3 tonnes in the corresponding period of 2022, the WGC report said. The report stated that Chinese demand regained ground, reaching 198 tonnes in its first quarter of unfettered consumer activity since lockdown restrictions were lifted. "Demand in China went up by 16 per cent due to the lifting of restrictions from the lockdown imposed to control the spread of Covid-19 and Chinese New Year," Somasundaram said. Meanwhile, demand in India declined as consumption fell by 17 per cent year-on-year to 78 tonnes during January-March 2023, mainly on account of a sharp increase in domestic gold prices to over Rs 60,000 per 10 grams and continued volatility in price. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-enterprises-paytm-tvs-hero-motocorp-britannia-among-stocks-to-watch/articleshow/100001235.cms">Sensex, Nifty50 slip amid weak global cues: HDFC twins tumble over 5%</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/hdfc-bank-hdfc-market-capitalisation-falls-after-msci-tweak/articleshow/100006092.cms">HDFC Bank, HDFC market capitalisation falls nearly ₹88,000 crore after MSCI tweak</a>

Gold demand dips 13% globally in Jan-Mar quarter says World Gold Council

<ul class="summary-list"><li>The <keyword id="13489252" type="UNKNOWN" weightage="60" keywordseo="london-bullion-market-association" source="Orion">London Bullion Market Association</keyword> and the <keyword id="13489253" type="UNKNOWN" weightage="60" keywordseo="world-gold-council" source="Orion">World Gold Council</keyword> launched a pilot program to digitally track <keyword id="11896079" type="UNKNOWN" weightage="60" keywordseo="gold" source="Orion">gold</keyword> moving through the global supply chain. </li><li>The Gold Bar Integrity Programme will test a blockchain-based ledger aimed at monitoring gold bars from mine to vault. </li></ul>Two major <a href="https://markets.businessinsider.com/commodities/gold-price?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest">gold</a> groups on Monday launched a pilot program to digitally monitor gold moving through the global supply chain as a way to ensure authenticity and bolster transparency within the market for the precious metal. The London <keyword id="6384667" type="UNKNOWN" weightage="60" keywordseo="bullion" source="Orion">Bullion</keyword> Market Association and the World Gold Council said the Gold Bar Integrity Programme will use a blockchain-backed ledger to register and track the full history of gold bars from mine to vault — gold that ultimately goes to so-called end consumers such as jewelry manufacturers. The groups want to guard the market against counterfeit gold or gold that's been illegally mined. "Consumers and investors want to know their gold has been responsibly and sustainably produced and tracing the origin of gold bars will help enforce the highest standards across the entire supply chain," World Gold Council CEO David Tait <a href="https://www.gold.org/news-and-events/press-releases/gold-bar-integrity-programme">said in a statement</a>. The LBMA and the WGC said the plan over time is to encourage all major participants in the industry to adopt blockchain technology so that all gold bars are digitally registered and tracked. Two distributed ledger companies, aXedras and Peer Ledger, will demonstrate their technology under the initial phase of the program.

The gold industry is testing blockchain technology to track the global market's supply chain of bars

<keyword id="19895579" type="General" weightage="100" keywordseo="gold" source="keywords">Gold</keyword> consistently reduces portfolio <keyword id="19908008" type="General" weightage="20" keywordseo="volatility" source="keywords">volatility</keyword> while improving returns, even with increased <keyword id="20108512" type="General" weightage="20" keywordseo="allocation" source="keywords">allocation</keyword>. By simulating portfolio performance with varying allocations of gold (2.5% to 10%), it's evident that the yellow metal bolsters return without adding significant risk, according to the <keyword id="20195223" type="General" weightage="20" keywordseo="World-Gold-Council" source="keywords" meta.keywordsubtype="org" meta.entityname="World Gold Council" meta.hostid="261" meta.entityid="World Gold Council">World Gold Council</keyword>. On the other hand, <keyword id="19899404" type="General" weightage="20" keywordseo="bitcoin" source="keywords">Bitcoin</keyword> shows diminishing returns as its allocation increases. A 2.5% allocation of bitcoin can enhance risk-adjusted returns, but beyond that, the portfolio's volatility rises, leading to larger drawdowns and lower overall performance. The data underscores that while bitcoin may offer short-term upside, it introduces risk that erodes its effectiveness as a stable <keyword id="22820244" type="General" weightage="20" keywordseo="store-of-value" source="keywords">store of value</keyword>. Global equities experienced a sharp downturn, with the <keyword id="19919944" type="General" weightage="20" keywordseo="SP-500" source="keywords" meta.keywordsubtype="org" meta.entityname="S&amp;P 500" meta.hostid="261" meta.entityid="S&amp;P 500">S&amp;P 500</keyword> and <keyword id="19951906" type="General" weightage="20" keywordseo="NASDAQ" source="keywords" meta.keywordsubtype="org" meta.entityname="NASDAQ" meta.hostid="261" meta.entityid="NASDAQ">NASDAQ</keyword> dropping over 4% and 6%, respectively, at the peak of the selloff. Amid this volatility, the debate over whether bitcoin can be considered "digital gold" resurfaced, as investors re-examined its place as an inflation hedge and a store of value. While bitcoin enthusiasts often label the cryptocurrency as "digital gold," a closer examination of the data, particularly during turbulent market periods, challenges this claim. Gold, a time-tested asset known for its stability, has long been a <keyword id="20466459" type="General" weightage="20" keywordseo="safe-haven" source="keywords">safe haven</keyword> during <keyword id="22820245" type="General" weightage="20" keywordseo="market-downturns" source="keywords">market downturns</keyword>. Bitcoin, on the other hand, displays characteristics more akin to high-risk technology stocks, making it an unsuitable substitute for gold in times of market stress. The primary distinction between gold and bitcoin lies in volatility. On a five-year rolling basis, gold has proven to be far less volatile than bitcoin, a trend that underscores its role as a safe haven asset. Gold's stable value is supported by central bank holdings, long-term investment demand, and its status as a global store of wealth. Bitcoin, conversely, is at the extreme end of the volatility spectrum, with its price fluctuations resembling those of tech stocks--closely tied to blockchain adoption and innovation trends. The most recent market correction in early August 2024 further emphasized these differences. While bitcoin experienced sharp losses, gold remained relatively stable, reinforcing its value as a risk mitigator during crises. The comparison of year-to-date returns reveals the stark contrast: bitcoin's wild swings have made it less reliable for investors seeking protection in a turbulent market. Bitcoin and gold also show stark differences in their correlation with broader markets. Gold has historically exhibited a negative correlation during down markets, and a positive correlation during up markets, making it an ideal asset for a diversified portfolio. Bitcoin, on the other hand, behaves more like risk assets, amplifying market stress rather than mitigating it. This was especially evident during the Russian invasion of Ukraine in 2022, when gold outperformed while bitcoin faltered, aligning with other high-risk equities. Gold's global acceptance as a store of value--unrestricted by geographic or regulatory boundaries--provides further stability. Bitcoin, while growing in prominence, has not demonstrated the same universal acceptance or reliability, particularly during significant market downturns. The critical takeaway from the events of early August 2024 is that bitcoin has yet to demonstrate the same safe haven characteristics as gold. In times of significant market drawdowns, bitcoin has tracked risk assets like tech stocks, offering no meaningful protection for investors seeking stability. This reinforces the notion that bitcoin's most common use case is as an indicator of blockchain adoption rather than a dependable hedge against inflation or market turmoil.

Gold boosts returns and lowers risk, while Bitcoin heightens volatility, says World Gold Council

<ul class="summary-list"><li>Gold jewelry demand looks set to weaken for the rest of 2022, said the World Gold Council. </li><li>A slowdown in the global economy is the largest risk to demand, said the 32-member group in its latest trends report. </li></ul>Demand for gold jewelry will be sluggish in the second half of 2022, according to the World Gold Council, which pointed to hurdles in two of the biggest markets — China and India. "The largest risk to jewellery comes from potentially weaker economic growth," the council said in a <a href="https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-q2-2022/outlook">report published late Wednesday</a>. It sees "notable downside risk" in the gold jewelry market for the rest of this year. <a href="https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-q1-2022/17134">In April</a>, the council projected flat demand in 2022.The more downbeat view from the council, whose membership is comprised of 32 gold mining companies, arrived shortly before US government data Thursday suggested the <a href="https://www.businessinsider.com/gdp-q2-economic-growth-recession-inflation-hiring-us-recovery-progress-2022-7">world's largest economy has entered a technical recession</a>. <a href="https://www.imf.org/en/Publications/WEO/Issues/2022/07/26/world-economic-outlook-update-july-2022">The International Monetary Fund</a> also this week cut its 2022 global GDP growth projection to 3.2% from 3.6%. Flash points in gold demand moving forward this year lie in China and India, the World Gold Council said. "China's lockdowns have dented demand and a recovery will likely be slow due to the continued strict zero-COVID policy and stresses in the domestic real estate sector," it said.China's gold jewelry demand dropped 29% in the second quarter to 103 tonnes. But some relief may be found in consumption stimulus measures and pent-up wedding demand, the council said. The Chinese government on Thursday reportedly said it will work on landing the best possible result for economic growth in 2022, indicating leaders in the world's second-largest economy will miss a target of 5.5%. The economy expanded by a relatively slow rate of 2.5% in the first half of 2022. And while gold demand in India climbed 49% to 140 tonnes last quarter on robust wedding and festival sales, the report noted headwinds there too. In particular, pressure in India should stem from an increase in the country's gold import duty and the possibility of additional curbs on gold buying to stem further depreciation of India's currency, the rupee. India this month raised its gold import duty by 4.25% to 18.45%. Overall jewelry consumption in the second quarter was 4% higher at 453 tonnes as growth in India and the Middle East outweighed declines in China and Russia, the group said. <a href="https://markets.businessinsider.com/commodities/gold-price?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest">Gold</a> futures during Thursday's session rose by nearly 2% to $1,752 an ounce. Prices have declined by more than 4% so far this year.<div type="image" title="A chart shows quarterly jewelry demand below pre-pandemic levels." height="972" width="1460" msid="93195649" hostid="261" sizebytes="48402"></div>

The gold market should see slower jewelry demand through end of 2022 amid deteriorating global economic growth, says World Gold Council

<ul class="summary-list"><li>Global <keyword id="47316" type="PERSON" weightage="60" keywordseo="Gold-demand">gold demand</keyword> fell by 23% in the first quarter from a year ago, the <keyword id="113718" type="ORGANIZATION" weightage="60" keywordseo="World-Gold-Council">World Gold Council</keyword> said Thursday. </li><li><keyword id="18712" type="ENTERTAINMENT" weightage="60" keywordseo="Gold">Gold</keyword> ETFs suffered a quarterly outflow of $9.5 billion as rising interest rates and dollar strength hurt investment demand. </li><li>The council said there was increased demand for physical gold including <keyword id="31199" type="COMPANY" weightage="60" keywordseo="Jewelry">jewelry</keyword>. </li></ul>Gold-backed exchange-traded funds in the first quarter of 2021 logged the largest outflows in more than four years, sapped by rising interest rates, but jewelry sales helped offset pressure on global <a href="https://markets.businessinsider.com/commodities/gold-price">gold </a>demand, according to the World Gold Council.Outflows from gold ETFs totaled 177.9 tonnes, or $9.5 billion, driven by Western <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> as US interest rates spiked and the US dollar rose, the organization said Thursday. The performance sharply lagged inflows of 299.1 tonnes during the same quarter last year. The outflows contributed to a 23% fall in global gold demand from a year earlier, to 815.7 tonnes."Outflows quickly mounted through the quarter as inflationary expectations -- and, by extension, expectations of higher interest rates -- were unleashed," said the council in a statement. "Outflows of this magnitude were last witnessed in Q4 2016, a time when there was a similar re-appraisal of the expected course of US growth and interest rates."The acceleration of the US economy's recovery from the COVID-19 pandemic has prompted economists to raise their growth and inflation forecasts and investors during this year have sold off Treasury bonds as they anticipate a pickup in consumer price inflation beyond the Federal Reserve's target of 2%.The bond selloff lifted long-dated <keyword id="75975" type="COMPANY" weightage="60" keywordseo="yields">yields</keyword>, notably the <a href="https://markets.businessinsider.com/rates/u-s--rates-10-years">10-year yield</a> to 14-month highs above 1.7%, signaling higher borrowing costs.While the threat of inflation can boost the gold's appeal as a hedge, rising interest rates hurt its appeal because the metal offers no yield.Long-dated yields have backed off from this year's highs but yields rose Thursday after the Commerce Department said the US economy expanded by 6.4% in the first quarter. While global gold demand fell on a year-over-year basis it was on par with the last three months of 2020, the WGC said.The fall in ETF demand was mitigated by demand for physical bars, coins and jewelry. Retail gold purchases climbed about 36% to 339.5 tonnes, swayed by "price-driven 'bargain-hunting' and widespread concern over growing inflationary pressures," the WGC said. The value of gold jewelry purchased by consumers surged, marking a 52% annual increase following an "extremely weak" first quarter of 2020.<keyword id="46002" type="PERSON" weightage="60" keywordseo="Gold-prices">Gold prices</keyword> fell by 10% during the first quarter of this year, which helped stoke consumer demand.Overall, the metal "retains its relevance in well-balanced portfolios, especially with a risk of inflation looming. Looking ahead to the rest of the year, we see reasons to be optimistic about the gold market as its main drivers remain well supported," Louise Street, senior markets analyst at the World Gold Council, said in a statement.Among gold ETFs on Thursday, <a href="https://markets.businessinsider.com/etfs/spdr-gold-shares-us78463v1070">SPDR Gold Shares</a> and <a href="https://markets.businessinsider.com/etfs/ishares-gold-trust-us4642851053">iShares Gold Trust</a> were each down by 0.8% and the <a href="https://markets.businessinsider.com/etfs/vaneck-vectors-gold-miners-etf-us92189f1066">VanEck Vectors Gold Miners ETF</a> declined 1.8% as gold prices pulled back to $1,768 per ounce.

Gold ETFs suffer their largest outflows in 4 years as higher interest rates hurt investment demand

<ul class="summary-list"><li><keyword id="11896079" type="UNKNOWN" weightage="60" keywordseo="gold" source="Orion">Gold</keyword> demand jumped 34% in the first quarter of 2022, according to the <keyword id="13489253" type="UNKNOWN" weightage="60" keywordseo="world-gold-council" source="Orion">World Gold Council</keyword>. </li><li>Gold benefitted from its status as an inflation hedge and a safety play in light of stronger inflation and <keyword id="11894337" type="UNKNOWN" weightage="60" keywordseo="russia" source="Orion">Russia</keyword>'s war against <keyword id="11985141" type="UNKNOWN" weightage="60" keywordseo="ukraine" source="Orion">Ukraine</keyword>. </li></ul>Investors sought safety in <a href="https://markets.businessinsider.com/commodities/gold-price?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest">gold </a>during the first quarter of 2022 as Russia escalated tensions with Ukraine into a full-blown war and as inflationary pressures accelerated, driving up demand for the metal by more than a third, according to the World Gold Council. The gold market had a "solid start" in 2022 with physical demand rising 34% to 1,234 tonnes from a year earlier, the <a href="https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-q1-2022">industry group said in its quarterly report</a> released late Wednesday. That move marked the highest increase since the fourth quarter of 2018, during which global financial <keyword id="11893875" type="UNKNOWN" weightage="100" keywordseo="markets" source="Orion">markets</keyword> were confronting trade issues between the US and China, among other developments. The demand increase was also 19% above the five-year average of 1,039 tonnes. "An uneasy environment of persistently high inflation and elevated geopolitical risks drove investors to gold, helping to propel prices higher," said the council, noting a 5% rise in the average dollar-denominated price on both a quarter-over-quarter and year-over-year basis. Physical demand was expressed by the strongest quarterly inflows into gold-backed <keyword id="12068971" type="UNKNOWN" weightage="60" keywordseo="etfs" source="Orion">ETFs</keyword> since the third quarter of 2020. Holdings soared to 269 tonnes, more than reversing the annual net outflow of 174 tonnes from 2021. It specifically pointed to the invasion of Ukraine by Russia as a key factor in fueling gold demand and prices, with the metal benefitting from its haven status as the war launched in late February. It also benefitted from its status as an inflation hedge, with inflation rates worldwide marching higher. In the US, the world's largest economy carried a <a href="https://www.businessinsider.com/inflation-cpi-march-price-growth-report-gas-food-costs-climbing-2022-4">headline inflation rate of 8.5% in March,</a> the fastest increase since December 1981. Eurozone inflation hit an all-time high of 7.4% last month and the <a href="https://www.adb.org/outlook#:~:text=Inflation%20in%20developing%20Asia%20this,dipping%20to%203.1%25%20in%202023.">Asian Development Bank</a> has forecast a regional rise in inflation to 3.7% in 2022. Central banks added to their stockpiles, pulling in 84 tonnes to global official gold reserves during the first quarter. Net buying more than doubled from the previous quarter but fell 29% short of the first quarter of 2021, the council said. It said jewelry consumption fell from January through March 2022, with demand down 7% to 474 tonnes year-over-year, largely because of softer demand in China and India. The council foresees consumer demand weighed by rising prices and a widespread economic slowdown although overall jewelry demand was still recovering from previous COVID-19 lockdowns. "On balance, the strong start to the year for investment and the negative economic ramifications of persistently high inflation and war in Ukraine make us confident that investment will be higher this year than last," the group said.

Gold demand climbed 34% in the first quarter as investors looked for safety from soaring inflation and Russia's invasion of Ukraine, says World Gold Council

<ul class="summary-list"><li><keyword id="18712" type="ENTERTAINMENT" weightage="60" keywordseo="Gold">Gold</keyword> demand fell 6% in the first half of the year even as prices break to their highest levels ever, according to a new report released by the World Gold Council on Thursday. </li><li>The World Gold Council said in a report that COVID-19 weakened consumer demand due to its "squeeze on disposable income." </li><li>But consumer weakness was partially offset by record ETF inflows. Investors in gold ETFs bought 734 tonnes worth of the metal in the first half of 2020, compared to the previous record 646 tonnes.</li><li>Gold reached its highest level ever this week amid growing tensions between US and China and as investors flocked to safe-haven assets. </li></ul>Gold demand fell 6% in the first half of the year even as investors poured record amounts into gold ETF, pushing prices to their <a href="https://markets.businessinsider.com/news/stocks/gold-rises-record-high-us-china-tensions-2000-next-target-2020-7-1029432780?utm_source=markets&amp;utm_medium=ingestgest">highest levels ever</a>, according to a new report released by the <a href="https://www.gold.org/goldhub/research/gold-demand-trends/gold-demand-trends-q2-2020">World Gold Council</a> on Thursday. In the report the World Gold Council said global gold demand fell 11% year-on-year in Q2 to 1,015.7 tonnes and demand for the first half of the year was weaker at 2,076 tonnes, a drop of 6% from 2019."The COVID-19 pandemic was again the main influence on the gold market in Q2, severely curtailing consumer demand while providing support for investment, the Council said. Read More: <a href="https://slack-redir.net/link?url=https%3A%2F%2Fwww.businessinsider.com%2Fstock-picks-sectors-to-buy-us-china-trade-war-gionnotto-2020-7" target="_blank" rel="noopener noreferrer">A market-research expert breaks down the 3 sectors and 4 stocks that he says are best to own as a new Cold War between the US and China heats up</a><h2>Global consumer demand was weak </h2>Investment in gold bars and coins drastically fell in Q2 by 17% to an 11-year low at 396.7 tonnes, as steep declines in Asia offset growth in the West as investors around the world adjusted their buying habits during the pandemic in different ways.Asia is usually known to boast strong consumer gold demand, as many people hold the precious metal for cultural reasons, and buy it for special occasions and important life events.Demand for jewellery fell in the first half of the year by 46% as economies were placed under lockdown and likely felt a "squeeze on disposable income," the World Gold Council said. <h2>Consumer weakness was offset by record ETF inflows </h2>The WGC noted that while demand from consumers was weak, speculative interest remained high in the metal. "The global response to the pandemic by central banks and governments, in the form of rate cuts and massive liquidity injections, fueled record flows of 734t into gold-backed ETFs," it said."These flows helped lift the <keyword id="35271" type="PERSON" weightage="60" keywordseo="gold-price">gold price</keyword>, which gained 17% in US dollar terms over the first half, hitting record highs in many other currencies," the World Gold Council added. Read More: <a href="https://slack-redir.net/link?url=https%3A%2F%2Fwww.businessinsider.com%2Fhow-to-invest-in-stocks-credit-commodities-for-economic-recovery-2020-7" target="_blank" rel="noopener noreferrer">3 Wall Street pros managing $12 billion in assets share their strategies for profiting from the economy's recovery — and explain why investors should be aggressively taking risks now</a> Inflows into gold ETFs accelerated in Q2, taking the figure for the first half of the year to a record-breaking 734 tonnes, surpassing the annual record of 646 tonnes. The price of gold reached its highest level ever this week amid growing tensions between the US and China. The precious metal closed at a new record high of $1970.92 on Wednesday. While the dollar is undoubtedly known as the world's number one reserve currency, many investors perceive gold to be another safe haven asset worth flocking to at times of economic turmoil. Gold has been supported by growing US-China tensions in recent months as China <a href="https://markets.businessinsider.com/news/stocks/stock-market-news-today-stocks-hong-kong-law-china-stimulus-2020-5-1029241493?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingesttm_medium=ingest" target="_blank" rel="noopener">enacted security legislation in Hong Kong</a> and the countries engaged in a blame war over who is responsible for the coronavirus outbreak. They flared again last week as the US ordered the closure of the Chinese Consulate in Houston and China subsequently <a href="https://markets.businessinsider.com/news/stocks/stock-market-news-equities-plunge-escalating-us-china-tensions-2020-7-1029427820?utm_source=markets&amp;utm_medium=ingest?utm_source=markets&amp;utm_medium=ingest#=ingest#" target="_blank" rel="noopener">ordered the closure of the US Consulate in Chengdu</a>.Many of Wall Street's biggest players expect <a href="https://markets.businessinsider.com/news/stocks/gold-price-bank-price-targets-forecasts-2020-7-1029438707?utm_source=markets&amp;utm_medium=ingest#est#" target="_blank" rel="noopener">the price rally in gold to continue</a>. <div type="image" title="Screenshot 2020 07 30 at 11.42.48 am" height="498" width="912" msid="77263090" hostid="261"></div>

You Searched For "world gold council" and got 9 results

India's gold demand dips 3% in 2023 on high prices: World Gold Council

PTI

Gold demand went up by 14% in Q3: World Gold Council

IANS

Gold demand dips 13% globally in Jan-Mar quarter says World Gold Council

PTI

The gold industry is testing blockchain technology to track the global market's supply chain of bars

Carla Mozée

Gold boosts returns and lowers risk, while Bitcoin heightens volatility, says World Gold Council

ANI

The gold market should see slower jewelry demand through end of 2022 amid deteriorating global economic growth, says World Gold Council

Carla Mozée

Gold ETFs suffer their largest outflows in 4 years as higher interest rates hurt investment demand

Carla Mozée

Gold demand climbed 34% in the first quarter as investors looked for safety from soaring inflation and Russia's invasion of Ukraine, says World Gold Council

Carla Mozée

Investors poured record amounts into gold ETFs at the start of 2020, helping to push prices to record highs — but overall demand actually dropped

Saloni Sardana

Popular Keywords

Buying Guides