Gold-backed ETFs added 52t or 2% of AUM in July building on a strong June
Holdings in global gold-backed ETFs and similar products rose by 69 tonnes(t) to 2,440t in 2018, equivalent to US$3.4bn of inflows. Global gold-backed ETFs grew 3% in 2018, driven by strong growth in European funds and increased global inflows during December.** This is the first time since 2012 that the value of total gold-backed ETF holdings has finished the year above US$100bn.
Gold Demand Trends webinar – listen back
The definitive market source for gold demand data, our latest Gold Demand Trends report explains in detail the 8% rise in global demand in Q2.
Listen back to our lively and informative discussion of the key trends shaping gold demand in the second quarter...
Driving China’s gold market
Madame Wu Xiaoling, Chairwoman of the Board of the PBC School of Finance, Tsinghua University and former Deputy Governor of the People’s Bank of China, believes that gold has a crucial role to play in China’s continuing development and the internationalisation of the RMB.
Driving China’s gold market
Madame Wu Xiaoling, Chairwoman of the Board of the PBC School of Finance, Tsinghua University and former Deputy Governor of the People’s Bank of China, believes that gold has a crucial role to play in China’s continuing development and the internationalisation of the RMB.
Gold Demand Trends Q2 2019
Gold demand was 1,123t in Q2, up 8% y-o-y. H1 demand jumped to a three-year high of 2,181.7t, largely due to record-breaking central bank purchases.
The advancements in China’s gold buy-back market
Recycled gold is an important source of gold supply . In 2018, the volume of recycled gold reached 1,168t, accounting for over 25% of total supply globally. Recycled gold is also an important source of supply in China, amounting to 146t, or 20% of domestic supply in 2018. Recently, China’s recycled gold market has experienced some exciting developments which could improve the efficiency and transparency of the industry.
Gold: Steady at the start of the week and trading around $1427/oz.
#Gold had a volatile week bu
Higher domestic price and monsoon dents Indian gold demand in June
Summary
- Indian gold imports were 62t in June 2019 – up slightly on the same month last year
- The domestic gold price was 6.1% higher in June as compared to end of May
- With higher domestic gold prices, the local discount in the gold market reached $23/oz (1.6% to the international price) by end of June
- Higher and relatively volatile prices encouraged gold futures trading on MCX: volumes touched a high of 28.2t in June
