By Polina Devitt LONDON, Aug 1 (Reuters) – Global gold demand excluding over-the-counter (OTC) trading fell 2% year-on-year to 920.7 metric tons in the second quarter of 2023 as central banks slowed their purchases and consumption by the technology sector remained soft, the World Gold Council (WGC) said on Tuesday.
However, demand from both jewellers, which account for around half of gold demand, and investors, who see bullion as a safe asset during periods of global instability, remained resilient, supporting high prices in April-June, the WGC said in its quarterly demand trends report.
Demand shot to an 11-year high in 2022 thanks to the biggest central bank purchases on record. In the first half of 2023, central banks bought 386.9 metric tons of gold, more than in any January-June period in data going back to 2000, the WGC said. “Buying activity remains widespread and distributed among both emerging and developed countries,” it added.
Purchases of gold bars and coins rose, with Turkey a major driver of growth, while outflows from exchange traded funds (ETFs) storing bullion for investors slowed, the WGC said. Including OTC trading, conducted directly between two parties rather than via an exchange, total global gold demand rose 7% to 1,255.2 metric tons in the second quarter.
“Although opaque, demand from this sector of the market was apparent as the gold price found firm support even in the face of ETF outflows and a reduction in COMEX net longs,” the WGC said. Investment in gold is on track to rise this year as strong OTC demand makes up for softness in ETFs and a slowing bar and coin sector, it added.
QUARTERLY GOLD DEMAND (tonnes)* Q2 2023 Q1 2023 Q2 2022 y/y % change Jewellery fabrication 491.3 511.5 0 493.5 Technology 70.4 70.1 -10 78.3 – of which electronics 56.4 56.1 -12 64.3 – other Industrial 11.6 11.6 +1 11.4 – dentistry 2.4 2.4 2.6 -10 Investment 256.1 275.9 +20 213.8 – of which bar and coin 277.5 304.5 +6 261.2 – ETFs & similar products -21.3 -28.7 -47.4 Central banks & other inst.
102.9 284.0 -35 158.6 GOLD DEMAND 920.7 -2 1,141.5 944.2 OTC and other 334.5 63.4 +44 232.5 TOTAL DEMAND 1,255.2 +7 1,204.9 1,176.6 * Source: World Gold Council, Gold Demand Trends Q2 2023 (Reporting by Polina Devitt; Editing by Kevin Liffey)
If can you get cheap clomid without prescription have any thoughts with regards to where by and how to use cost of cheap clomid, can you get cheap clomid without prescription can you get cheap clomid without prescription speak to us at our own web-site.