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Strengthening consumer demand mitigates impact of gold-backed ETF outflows


Strengthening consumer demand mitigates impact of gold-backed ETF outflows
By: Times News Service
Photo used for illustrative purpose only
Muscat: Gold investment demand fell in Q1 driven by hefty outflows in gold-backed exchange-traded funds (ETFs) as growing expectations of higher interest rates impacted sentiment, according to the World Gold Council’s latest Gold Demand Trends report.
While Q1’s overall global gold demand, at 815.7 tonnes (t), was on par with the preceding quarter, there was a significant (23per cent)drop year-on-year, as gold-backed ETFs saw 177.9t of outflows.
However, the effect of this drop in ETF demand was mitigated by the strength of bar and coin demand. Such retail gold purchases reached 339.5t (+36 per cent year-on-year), influenced by price-driven ‘bargain-hunting and widespread concern over growing inflationary pressures. ....

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UAE gold shoppers are waiting for the next price drop - will it happen soon?


Dubai: How much should gold prices drop before shoppers in the UAE start buying again?
Going by the trends in the first three months, anything around Dh190-Dh195 a gram should be enough to get shoppers back. And for a brief period in March, UAE shoppers did just that as gold prices showed some weakness for the first time in more than 12 months.
Much the same was happening in the rest of the world, as shoppers in India, China, other Gulf markets and the US stocked up on jewellery – in all, 477 tonnes of jewellery was bought during these three months, a sharp 52 per cent increase on the tally from first quarter 2020, when the world was moving into a lockdown. March buying was spurred by the dip below $1,700 an ounce, and it was felt that gold prices were set for a period of cooling off. And for demand to heat up… ....

United Arab Emirates , Sanjay Jethwani , Akshaya Trithiya , John Mulligan , Market Relations At World Gold Council , World Gold Council , Stock Dubai , Dubai Gold Rate , Image Credit , Market Relations , London Headquartered World Gold , Meena Jewellers , Louise Street , Senior Markets Analyst , World Gold , ஒன்றுபட்டது அரபு அமீரகங்கள் , சஞ்சய் ஜெத்வானி , ஜான் முல்லிகன் , சந்தை உறவுகள் இல் உலகம் தங்கம் சபை , உலகம் தங்கம் சபை , ஸ்டாக் துபாய் , துபாய் தங்கம் ரேட் , படம் கடன் , சந்தை உறவுகள் , மீனா நகைக்கடைக்காரர்கள் , லூயிஸ் தெரு ,

Gold demand drops to 11-year-low in 2020


Gold demand drops to 11-year-low in 2020
By: Times News Service
Photo used for illustrative purpose only
The COVID-19 pandemic, with its far-reaching effects, was the driving factor behind gold consumer demand weakness throughout 2020, leading to a 14 per cent decline in annual demand to 3,759.6 tonnes. Last year was the first sub-4,000 tonnes year since 2009 according to the World Gold Council’s latest Gold Demand Trends report.
Global gold demand dropped by 28 per cent y-o-y to 783.4t in Q4, making it the weakest quarter since the midst of the global financial crisis in Q2 2008.
Gold jewellery demand in Q4 fell 13 per cent y-o-y to 515.9t, resulting in a full-year total of 1,411.6t, 34 per cent lower than in 2019 and a new annual low for our data series. While demand improved steadily from the severely depleted Q2 total, the coronavirus continued to impact consumer behaviour. ....

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