Insights: Posts from September 2024

In this special episode of "Unearthed", John Reade and Joe Cavatoni from the World Gold Council discuss the 50 basis point interest rate cut by the U.S. Federal Reserve and its impact on the gold market.

In this episode, hosts John Reade and Joe Cavatoni speak with Dr. Laura Fabris about the fascinating world of gold nanoparticles.

• Domestic gold price tracks the upward trend in international prices
• Consumer demand stabilises but maintains strength; festive season momentum key
• Premium of domestic gold prices over landed cost shrinks
• The Reserve Bank of India (RBI) has added 50t to its gold reserves so far this year
• Streak of fund inflows into Indian gold ETFs continues, with highest monthly inflows on record in August
• Gold imports hit a new high in August

In August, China’s wholesale gold demand saw a seasonal m/m bounce. But it remains well below the long-term average amid the record level gold price and economic uncertainties. Meanwhile, Chinese gold ETFs saw their first monthly outflow since November 2023.

Central banks have shown an ongoing commitment to accumulating gold in recent months. While the overall level of reported demand has cooled as the gold price has continued to rally to new record highs, it has nonetheless remained positive.