Market Speak: Global gold demand holds firm in Q2 as central banks return- WGC
Mumbai, July 30 -- Global gold demand remained resilient in the June quarter, supported by a sharp rebound in central bank purchases despite softer jewellery consumption. According to the Gold Demand Trends report released today by the World Gold Council, total gold demand, including OTC transactions, was steady at 1,269 tonnes in Q2, lifting first-half demand to 2,522 tonnes (+2% y/y) with a record value of US$380 billion. Central banks added a robust 289 tonnes of gold during the quarter, while bar and coin investment remained stable at 307 tonnes after two exceptionally strong quarters. Meanwhile, gold ETFs recorded net outflows of 45 tonnes as easing gold prices, a stronger US dollar and higher interest rate expectations weighed on inve...
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