Gold Market Commentary

Gold fell 3.5% in July, leaving it down 2.9% on the year at US$1,753/oz. A strong US dollar and sticky real yields weighed on gold in the first half of July.

Gold Market Commentary

Gold ended August lower m-o-m, down 2% to US$1,715.9/oz – its fifth consecutive monthly decline.  The promising bounce that began in mid-July ran out of steam in mid-August after failing to break the US$1,800/oz resistance level.

Gold Market Commentary

Gold fell for the sixth consecutive month, dropping 2.6% to finish September at US$1,671.8/oz. It was a challenging month for most assets, with global equities down 9.5%, global bonds down 5.1% and commodities down 8.4%.

Gold Market Commentary

Gold fell 2% in October on rising bond yields and dollar strength, but it was positively impacted by higher breakeven inflation. But a weaker US dollar vs. euro and lower ETF outflows provided some support

Gold Demand Trends Full Year 2022

Colossal central bank purchases, aided by vigorous retail investor buying and slower ETF outflows, lifted annual demand to an 11-year high. Annual gold demand (excluding OTC) jumped 18% to 4,741t, almost on a par with 2011 – a time of exceptional investment demand. The strong full-year total was aided by record Q4 demand of 1,337t.