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Global gold demand rose by 3% year-on-year to 1,238 metric tons in the first quarter of 2024, marking the strongest first quarter since 2016, due to active over-the-counter trading, the World.
Safe-haven demand, driven by geopolitical and economic uncertainty, investment in the OTC market, persistent central bank buying, and high demand from Asian buyers caused a rally in gold in March-April, pushing the first-quarter gold price to a record average of $2,070 per ounce.
Outflows from global
physically backed gold exchange traded funds continued
for a 10th month in March, but at a slower pace than in previous
months as North American and Asian inflows cushioned.