News with the tag "Gold Demand"

The World Gold Council’s Q2 2024 report highlights a year-on-year increase in gold demand, marking the highest second-quarter demand since 2000. This surge is fueled by central bank purchases and OTC investments, with central bank gold buying up by 6% and technology sector demand rising by 11%. Q2 2...

Jan Nieuwenhuijs, a gold market analyst, has assessed the state of the gold market, reporting that growing demand from both the private market and the People’s Bank of China (PBOC) has been instrumental in the rise of gold prices. Chinese private investors purchased 543 tonnes during Q1, while the P...

The price of an ounce of pure gold has approached its highest historical level this weekend, reaching $2,071 per ounce. This peak nearly matches its record three years ago on August 7, 2020, when during the Covid-19 pandemic, spot gold prices soared to an unprecedented high of $2,072.50 per ounce. G...

Central banks around the world maintained their appetite for gold in the third quarter of 2023, with their purchases totaling 337 metric tons, the World Gold Council’s (WGC) third-quarter report shows. Analysts from the council suggest that this steady central bank activity is indicative of a sustai...

Although gold has been trading below the $2K range since May 16, 2023, Rick Rule, the founder of Rule Investment Media, is confident that the struggling U.S. economy will cause demand for precious metals like gold to skyrocket. In an interview published on May 18, Rule emphasized that people’s anxie...