We are the #1 ranked customer service company in the country. The coronavirus shutdowns caused mine production to fall 3% compared to a year ago, but that was enough to push it to a five-year low, the World Gold Council said.ĮTF demand has helped bump pricing 11% higher in the year to date - 4% higher in the first quarter - and the precious metal “is now approaching its all-time highs of $1,900 set in August 2011,” Colas wrote. It’s also important to note the supply dynamic. Meanwhile, most other categories of buyers were negative: central banks bought 8% less in the quarter compared to a year ago, demand for bars and coins was 6% lower than a year ago, and demand for jewelry plummeted 39% to a new record low. For gold ETFs, it was the highest quarterly inflows in four years “amid global uncertainty and financial market volatility,” the World Gold Council said in its report. ![]() That took their total ownership to a new record of 3,185 tonnes. During that period, ETF purchases of gold GC00, 0.73% were more than seven times as high as in the same period a year ago.ĮTFs bought 298 tonnes of gold in the first quarter, nearly as much as they bought throughout all of 2019. Global gold demand was up 1% in the first three months of 2020, while supply fell by 4%, wrote Nicholas Colas, Co-founder of DataTrek Research, citing a quarterly report from the World Gold Council. ETFs bought 298 tonnes of gold in the first quarter
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