Tag: world gold council

Attractive equity markets and volatile gold prices may prove to be a deterrent for investment in the yellow metal in the second half of 2021, suggests the latest report from World Gold Council (WGC). That said, the upcoming festival season, including Dhanteras and the wedding season in the October – December quarter of 2021, WGC believes, may see an uptick in demand for the yellow metal. “Consumer investment in gold increased in the second quarter of 2021, but some investors were less bullish. Outlook for the second half of 2021 is yet uncertain, as consumer confidence and business response are subject to the impact of a looming threat of the third wave of Covid and the pace of economic recovery,” said the WGC report. But attractive equity markets and volatile gold prices may prove to be a deterrent for investment in the yellow metal in the second half of 2021. Read more

Global demand for gold fell to its lowest in 11 years in 2020 as the coronavirus upended the market, triggering huge stockpiling by investors. but sales of jewellery and purchases by central banks collapsed according to an industry report on 28th January 2021. The pandemic also transformed the geography of the bullion trade, sucking gold from Asia, where most gold is sold as jewellery, to Europe and the United States, where investors are the dominant consumers. It also pushed the value of gold up 25% in 2020, because investors have much more impact on prices than the jewellery market. Global demand for gold fell to 3,759.6 tonnes last year, down 14% from 2019 and the first year below 4,000 tonnes since 2009, the World Gold Council (WGC) said in its latest quarterly report. The year ended on a weak note, with demand over October to December at 783.4 tonnes, down 28% year-on-year and the lowest of any quarter since 2008, the WGC said.