Gold: Pretty sideways performance in #gold over the past few weeks, currently trading around $12
Gold shines brighter on Akshaya Tritiya
Akshaya Tritiya is one of the most auspicious occasions in Hindu religion. The word Akshaya means ‘Eternal’ and Akshaya Tritiya is thus considered an auspicious day for, among other things, starting a business, buying a property or making an investment. Buying gold on Akshaya Tritiya is believed to bring good fortune and prosperity. On the day itself, there is even a specific time period which is seen as auspicious for buying gold – the shubh muhurat.
Gold: Our team in India, led by @SomPR_WGC , have reported tremendous interest in #gold over the
Global gold-backed ETF holdings fell 2% in April, resulting in net 2019 outflows to date
In April, holdings in global gold-backed ETFs and similar products fell across all regions by 57 tonnes(t) to 2,424t, equivalent to US$2.2bn in outflows. Global assets under management (AUM) in US dollars fell by 3% to US$100bn, as the price of gold of gold fell 1% during the month. Global gold-backed ETFs have now lost assets of US$377mn, 0.4% AUM on the year, reversing January’s strong start.
Gold: I promised to send some better-quality highlights from our #GoldDemandTrends breakfast yes
Gold demand strides confidently into 2019 – up 5% year-on-year.
Gold Demand Trends Q1 2019
Gold demand lifted by central banks and ETFs. This compares with a relatively weak Q1 2018, when demand sank to a three-year low of just 984.2t. Central bank buying continued apace: global gold reserves grew by 145.5t.
