The Global Experts on Gold

So far in 2024, China's gold jewellery consumption weakened notably while investment demand for gold saw sizeable increases. Looking ahead, potential stability in the economy and possible further stimuli should help trim gold jewellery demand weakness, expected declines in yields and a likely weaker local currency may support gold investment demand.

Global physically backed gold ETFs reported a net loss for the first time in six months, losing US$2.1bn in November. Europe led outflows while North America recorded its fifth consecutive monthly inflow - albeit a smaller one - and stood as the only region to report positive flows during the month.

The start of November saw gold pressured by higher opportunity costs and a Republican clean sweep. Stronger bond yields and US dollar, risk-on in equities, a boost to cryptocurrencies and quelling of geopolitical risk might see a near-term retracement in gold.

Data on sectors of gold demand, supply, productions costs and futures market positioning

Benchmark gold prices, gold futures curves and local price premium/discount

Returns, volatility, correlations and trading volumes for gold, bonds, equities and other major asset classes

Data on central bank gold holdings, sales and purchases, as well as insights from annual surveys into central bank attitudes towards gold.