COVID-19 steals sheen off gold demand on Akshaya Tritiya
A higher gold price, nation-wide lockdowns and concerns over household income curtailed gold demand on Akshaya Tritiya (AT) this year.
Gold ETF inflows remained strong but not unprecedented in April
This morning we released the Global gold-backed ETF flows report for April which highlighted gold-backed ETFs had inflows for a sixth straight month.
Inflows into gold ETFs for a sixth straight month in April
Globally, gold-backed ETFs (gold ETFs) added 170 tonnes(t) – net inflows of US$9.3bn (+5.1%) – in April, boosting holdings to a new all-time high of 3,355t.1 Assets under management (AUM) also reached a new record high of US$184bn as gold in US dollars moved higher by 5.8%. Inflows have been strong and consistent in recent months, but not unprecedented. Rolling twelve-month inflows of 879t just surpassed those of 2009 and 2016, while rolling six-month inflows are less than two-thirds of the 457t of inflows in the comparable time periods of 2009 and 2016.
Webinar: Gold Demand Trends Q1 2020
Twitter highlights
Gold Demand Trends Q1 2020
The global COVID-19 pandemic fuelled safe-haven investment demand for gold, offsetting marked weakness in consumer-focused sectors of the market.
Testing times – the ups and downs of COVID-19 rapid diagnostics
China’s gold market in March: reviving gradually
In March, the SHAUPM rose by 1.4% while LBMA Gold Price AM fell slightly as the RMB weakened relative to the USD. Although new COVID-19 infections in China remained near zero in March, concerns for the pandemic’s aftermath on the domestic economy linger.
