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World Gold Council: Global gold consumption and investment picked up in the second quarter.
Release time:
09 Oct,2021
Source:
CHINA GOLD GROUP LIMITED
Recently, the World Gold Council released the ''Global Gold Demand Trend Report'', showing that in the second quarter of this year, global gold consumption and investment demand increased. The total global gold demand reached 955.1 tons, an increase of 9% from the previous quarter, which was basically the same as the same period last year. Flat.
In the second quarter, the demand for gold bars and coins increased for the fourth consecutive quarter compared with the same period last year, reaching 243.8 tons, an increase of 56 percent over the same period last year; the total consumption of gold ornaments was 390.7 tons, an increase of 60 percent over the same period last year; central banks continued to maintain a steady pace of gold purchases, and global official gold reserves increased by 199.9 tons. However, institutional investors were more cautious in the second quarter, reducing their gold allocation, with global gold ETF positions increasing only slightly by 40.7 tonnes.
In the first half of the year, total global gold demand was 1833.1 tons, down 10% year-on-year, mainly due to a large outflow of gold ETFs in the first quarter; total global gold supply was 2307.9 tons, up 4% year-on-year, the growth was due to the supply side of gold by the new crown epidemic to reduce the interference.
The World Gold Council predicts that the global demand for gold jewellery in 2021 may be between 1600 tons and 1800 tons, which is lower than the average level of the past five years; the physical investment demand for gold is between 1250 tons and 1400 tons, which is expected to be the average level of the past 10 years Basically the same; central banks of various countries will continue to maintain the pace of net gold purchases in 2020 or higher; global gold supply is expected to achieve a slight increase compared with last year.
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