The June–July period typically marks the off-season for gold in India, particularly for jewellery. A recovery in demand is anticipated with the onset of the festive and auspicious buying season from mid-August.
The PBoC continued to add gold to its reserves while Chinese gold investment momentum cooled. And wholesale gold demand weakened m/m due mainly to seasonal impact on gold jewellery consumption and slowing bullion sales.
In this episode of Unearthed, hosts Joe Cavatoni and John Reade unpack the latest gold market trends from May, including ETF outflows and a split between institutional interest and softer retail demand in the US.
