Chart gallery

29 July, 2021

Executive summary

 

H1 gold ETF outflows exceeded consumer demand growth

H1 gold ETF outflows exceeded consumer demand growth

H1 demand by sector, tonnes

H1 gold ETF outflows exceeded consumer demand growth
H1 demand by sector, tonnes
*Data as at 30 June 2021. Source: Metals Focus, Refinitiv GFMS, World Gold Council

Sources: Metals Focus, Refinitiv GFMS, World Gold Council; Disclaimer

*Data as at 30 June 2021.

 

Q2 review and outlook

 

Gold prices recovered in Q2, aided by a return to ETF inflows

Gold prices recovered in Q2, aided by a return to ETF inflows

Gold price in various currencies, indexed to January 2020

Gold prices recovered in Q2, aided by a return to ETF inflows
Gold price in various currencies, indexed to January 2020
*Data as of 30 June 2021. Source: ICE Benchmark Administration, Refinitiv Datastream

Sources: ICE Benchmark Administration, Refinitiv Datastream; Disclaimer

*Data as of 30 June 2021.

 

Jewellery

 

H1 global jewellery volume below pre-pandemic levels; value on par with 2014

H1 global jewellery volume below pre-pandemic levels; value on par with 2014

H1 jewellery demand, tonnes and US$bn

H1 global jewellery volume below pre-pandemic levels; value on par with 2014
H1 jewellery demand, tonnes and US$bn
*Data as at 30 June 2021. Source: ICE Benchmark Administration, Metals Focus, Refinitiv GFMS, World Gold Council

Sources: ICE Benchmark Administration, Metals Focus, Refinitiv GFMS, World Gold Council; Disclaimer

*Data as at 30 June 2021.

 

 

China's H1 gold jewellery demand was the highest since 2015

China's H1 gold jewellery demand was the highest since 2015

Chinese H1 jewellery demand, tonnes

China's H1 gold jewellery demand was the highest since 2015
Chinese H1 jewellery demand, tonnes
*Data as of 30 June 2021. Source: Metals Focus, Refinitiv GFMS, World Gold Council

Sources: Metals Focus, Refinitiv GFMS, World Gold Council; Disclaimer

*Data as at 30 June 2021.

 

 

Indian Q2 jewellery demand impacted by second wave of COVID-19

Indian Q2 jewellery demand impacted by second wave of COVID-19

Quarterly jewellery demand, tonnes

Indian Q2 jewellery demand impacted by second wave of COVID-19
Quarterly jewellery demand, tonnes
Source: Metals Focus, World Gold Council

Sources: Metals Focus, World Gold Council; Disclaimer

 

Investment

 

Modest Q2 ETF inflows only partly offset significant Q1 outflows

Modest Q2 ETF inflows only partly offset significant Q1 outflows

Quarterly ETF flows, tonnes and US$bn
Modest Q2 ETF inflows only partly offset significant Q1 outflows
Quarterly ETF flows, tonnes and US$bn
*Data as of 30 June 2021. Gold ETFs AUM value is calculated by multiplying the end of period (EoP) gold holdings in tonnes by the end of period LBMA Gold Price PM in US dollars. For a listing of the Exchange Traded Funds and similar products, please see the notes and definitions. Source: Bloomberg, Company Filings, ICE Benchmark Administration, World Gold Council

Sources: Bloomberg, Company Filings, ICE Benchmark Administration, World Gold Council; Disclaimer

*Data as of 30 June 2021. Gold ETFs AUM value is calculated by multiplying the end of period (EoP) gold holdings in tonnes by the end of period LBMA Gold Price PM in US dollars. For a listing of the Exchange Traded Funds and similar products, please see the notes and definitions.

 

 

Value of bar and coin demand in H1 highest since 2013

Value of bar and coin demand in H1 highest since 2013

H1 bar and coin demand, tonnes and US$bn

Value of bar and coin demand in H1 highest since 2013
H1 bar and coin demand, tonnes and US$bn
*Data as of 30 June 2021. Source: ICE Benchmark Administration, Metals Focus, Refinitiv GFMS, World Gold Council

Sources: ICE Benchmark Administration, Metals Focus, Refinitiv GFMS, World Gold Council; Disclaimer

*Data as of 30 June 2021.

 

 

China's bar and coin demand rose amid a lower gold price and stronger economy*

China's bar and coin demand rose amid a lower gold price and stronger economy*

H1 Chinese bar and coin demand, tonnes, and quarterly disposable income divided by average quarterly gold price in Yuan per gram

China's bar and coin demand rose amid a lower gold price and stronger economy*
H1 Chinese bar and coin demand, tonnes, and quarterly disposable income divided by average quarterly gold price in Yuan per gram
*Data as of 30 June 2021.Consumption power of gold is the inflation-adjusted quarterly household disposable income divided by the quarterly average gold price. Source: National Bureau of Statistics, Shanghai Gold Exchange, World Gold Council

Sources: National Bureau of Statistics, Shanghai Gold Exchange, World Gold Council; Disclaimer

*Data as of 30 June 2021. Consumption power of gold is the inflation-adjusted quarterly household disposable income divided by the quarterly average gold price.  

 

 

US gold Eagle coin celebrates turning 35 with strong sales

US gold Eagle coin celebrates turning 35 with strong sales

US Mint sales of American Eagle gold coins, ounces

US gold Eagle coin celebrates turning 35 with strong sales
US Mint sales of American Eagle gold coins, ounces
*Data to 21 July 2021. Source: US Mint, World Gold Council

Sources: US Mint, World Gold Council; Disclaimer

*Data to 21 July 2021.

 

Central banks

 

Central bank demand has picked up during the first half of 2021

Central bank demand has picked up during the first half of 2021

H1 net central bank purchases, tonnes
Central bank demand has picked up during the first half of 2021
H1 net central bank purchases, tonnes

Sources: Metals Focus, Refinitiv GFMS, World Gold Council; Disclaimer

*Data as at 30 June 2021. Note: Five-year average of H1 demand between 2016 and 2020, and ten-year average of H1 demand between 2011 and 2020.

 

 

Diverse demand in H1 came from both new and regular buyers

Diverse demand in H1 came from both new and regular buyers

Central bank demand by country in H1 2021*

Diverse demand in H1 came from both new and regular buyers
Central bank demand by country in H1 2021
  • Thailand90.19t
  • Hungary62.09t
  • Brazil53.74t
  • India28.99t
  • Uzbekistan25.50t
  • Turkey13.5t
  • Cambodia4.97t
  • Poland3.1t
  • Mongolia1.75t
  • Kazhakstan-1.91t
  • United Arab Emirates-2.00t
  • Germany-3.32t
  • Russia-6.22t
  • Phillipines-27.16t

Sources: International Monetary Fund, Respective central banks, World Gold Council; Disclaimer

 

Supply

 

H1 mined gold production was the highest since 2000

H1 mined gold production was the highest since 2000

H1 gold mine production, tonnes

H1 mined gold production was the highest since 2000
H1 gold mine production, tonnes
Sources: Metals Focus, World Gold Council; Disclaimer *Data as of 30 June 2021.

Sources: Metals Focus, World Gold Council; Disclaimer

*Data as of 30 June 2021.

 

 

Q2 saw a q-o-q rise in gold recycling activities driven by a higher gold price

Q2 saw a q-o-q rise in gold recycling activities driven by a higher gold price

Q2 saw a q-o-q rise in gold recycling activities driven by a higher gold price
Recycled gold supply, tonnes, and gold price, US$/oz
Sources: ICE Benchmark Administration, Metals Focus, World Gold Council; Disclaimer *Data as of 30 June 2021.

Sources: ICE Benchmark Administration, Metals Focus, World Gold Council; Disclaimer

*Data as of 30 June 2021.

Important disclaimers and disclosures [+]Important disclaimers and disclosures [-]