As the festive and wedding season approaches, there are signs that gold jewellery demand is gaining momentum, and with investment interest holding firm, overall gold demand could receive a boost.
China’s official gold reserves rose further in July, the ninth consecutive monthly purchase. Wholesale gold demand saw a modest m/m seasonal rise in July, yet they remained below the long-term average. Gold ETF flows flipped negative and gold futures’ volumes cooled.
In this episode of Unearthed, hosts John Reade and Joseph Cavatoni, Senior Market Strategists at the World Gold Council, unpack the latest macro trends and data influencing the gold market – from shifting investor sentiment and mixed US economic data, to renewed tariff tensions and policy unpredictability.
Central banks reported 22t of net purchases in June via the IMF and other public data sources. Based on available data,*demand saw a modest m/m increase for the third consecutive month. In H1, central banks reported net buying of 123t, a slight y/y decline from H1 2024.
In this episode of Unearthed, hosts John Reade and Joseph Cavatoni, Senior Market Strategists at the World Gold Council, are joined by Ken Rogoff, Professor of Economics at Harvard University and former Chief Economist of the IMF.
