UAE jewellery demand still dulled by VAT
I spent a few days in Dubai last week conducting field research speaking to jewellers and bullion dealers as well attending the Dubai Precious Metals Conference.
Gold’s unexpected role in the fight against antimicrobial resistance
European ETPs reach record highs
VAT in China
In March the amount of gold that left Shanghai Gold Exchange vaults - also known as the SGE loadouts - hit 218t. This is a chunky number. It is the highest March on record, almost 30% higher than the average monthly loadout since the start of 2016 and a 13% increase on March 2018.
Global gold-backed ETF holdings grew incrementally in March
Holdings in global gold-backed ETFs and similar products rose slightly in March by 2 tonnes(t) to 2,481t, equivalent to US$120mn in inflows. Global assets under management (AUM) fell by 1.7% in US dollars to US$103bn over the month, driven by the 2% decline in the price of gold during the same period. Global gold-backed ETF flows remain positive on the year (US$1.9bn, 1.9% AUM) on the back of strong January inflows.
Gold: Despite the inflows into ETFs we discussed yesterday, #gold declined during US trading on
Gold in Islamic finance
Quick summary of some recent consumer research of retail investors across Turkey, Saudi Arabia, United Arab Emirates and Malaysia
Market Update Investor insights: gold in Islamic investment
Following the launch of the AAOIFI Shari’ah Standard on Gold in 2016, we have engaged with Islamic banks and financial institutions to develop the market for Shari’ah-compliant gold-backed products. As part of this we undertook research to understand how investors view Islamic finance, their attitudes towards gold, and preferences for gold-backed products.
