Gold ETFs saw outflows of US$3bn in 2022
Physically-backed gold ETFs saw their holdings fall by 110t in 2022, down 3% y-o-y and equivalent to outflows of US$3bn.
2022 Chinese gold jewellery market insights
The notable rebound in Q3 Chinese gold jewellery demand from the COVID-stricken Q2 and easing COVID restrictions paints a bright picture for the future. And our third annual gold jewellery retailer survey with China Gold News suggest that opportunities abound.
India’s gold market in November: retail demand soft and imports declined
The international gold price jumped by 7.4% in November to US$1,760/oz, boosted by lower yields and dollar weakness.
China’s gold market in November: wholesale demand weakened, gold reserves rose
The divergence between the RMB and USD gold prices widened. The weakening US dollar and lowering yields helped pushed the LBMA Gold Price AM in USD 7.4% higher in November, the best month since July 2020.
Gold miners’ costs rise again in Q3’22 but the rate of increase has slowed
Average all-in sustaining costs (AISC) in the gold mining industry increased by 1% q-o-q in Q3’22, reaching a new record high of US$1,289/oz.
ETF holdings dwindle in November
Global gold ETFs registered their seventh consecutive month of net outflows in November. But outflows slowed to a relatively modest 33t (US$1.8bn), having also decelerated m-o-m in October (to -59t).
India’s gold market in October: festivals and weddings lifted retail demand
The domestic gold price diverged from the international gold price: the MCX Gold Spot price rose marginally by 0.2% compared to a 2% decline in the LBMA Gold Price AM in USD
China’s gold market in October: seasonality and COVID disruptions weighed on wholesale gold demand
Gold’s price divergence continued: the Shanghai Gold Price Benchmark PM (SHAUPM) in RMB rose by 1%, while the LBMA Gold Price AM in USD saw a 2% fall in October.
