Research library

Unprecedented monetary policies (including quantitative easing and negative nominal interest rates) have had the unintended consequence of dramatically reducing the pool of investable assets available to reserve managers. 

Continued growth in Q2 2016 (+15%) brought total H1 gold demand to 2,335t – the second highest first half on record.

This paper reviews the different approaches to gold accounting demonstrated by central banks and discusses the elements of a common approach for central banks.

In this edition, Mervyn King, Governor of the Bank of England from 2003 to 2013, discusses global economic prospects, the limits of monetary policy and the role of gold in a world dominated by ‘radical uncertainty.’

Gold Investor is designed to assess the impact of topical issues on gold, with insights and analysis from some of the world’s most influential central bankers and market commentators. 

Gold demand reached 1,290 tonnes Q1 2016, a 21% increase year-on-year, making it the second largest quarter on record.

Gold demand in the fourth quarter increased 4% year-on-year to a 10-quarter high of 1,117.7t. Full year demand was virtually unchanged, down just a fraction (-14t) to 4,212t. 

Third quarter gold demand rose by 8% year-on-year, reaching a two-year high of 1,120.9 tonnes. Q3 2015 was a period of two distinct halves: ETF outflows contributed to a price dip in July, which boosted consumer demand around the world.