golddemand
The World Gold Council recently published two interesting reports. Gold demand plunged in 2020, but 2021 should be positive for the yellow metal. Q4 2020 hedge fund letters, conferences and more Gold Demand TrendsOn Thursday (January 28), the WGC published its newest report about gold demand trends: Gold Demand Trends Full Year and Q4 2020 . The key message of this publication is that the gold demand of 783.4 tons (excluding over-the-counter activity) in the fourth quarter of 2020 was 28 percent lower year-over-year. As a result, it was the weakest quarter since the midst of the Great Recessio...
ValueWalk
The gold spot price today continues to slump below $1900, but this low price might not last. The US GDP expanded 33% in the third quarter, but it’s still currently 3.5% below where it was in 2019. CNBC pins this as a victory, even though this is the second-largest three-quarter drop on record. In addition to this, another 751,000 people applied for unemployment last week, the final number before the election. However, the gold spot price has room to increase because of other factors affecting the markets right now. This includes the election, COVID resurgences, and an upcoming Indian holiday k...
ValueWalk
“In 20Q3, physical gold demand remained under pressure with losses across nearly all sectors. Coupling Covid-19’s severe toll on the global economy and a record high gold price, consumption was dragged sharply lower,” comments, Cameron Alexander, Precious Metals Research Manager, Refinitiv. “However, looking ahead while considering the underlying macroeconomic conditions such as economic headwinds, the low interest rate environment, ongoing tensions between the United States and China, rising inflationary expectations and the looming second wave of COVID-19, remain highly favourable for gold i...
ValueWalk
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