Arab Today, arab today economic unrest fuels gold demand
Last Updated : GMT 06:09:02
Arab Today, arab today
Arab Today, arab today

Economic unrest fuels gold demand

Arab Today, arab today

Arab Today, arab today Economic unrest fuels gold demand

Total gold demand stood at 1,290 tonnes
London - AFP

Global gold demand surged in the first quarter as investors seeking refuge from financial unrest swooped on the commodity seen as a safe haven investment, the World Gold Council said Thursday.

Total gold demand stood at 1,290 tonnes in the January-March period, an increase of 21 percent compared with the first quarter of 2015.

The first quarter of 2016 was the second-largest ever in terms of the recorded volume of gold, the London-based group said.

According to the WGC, the largest quarter was in the final three months of 2012, when demand stood at 1,290.6 tonnes.

The latest increase meanwhile "was... fuelled by investor concerns regarding economic fragility and an uncertain financial landscape," the WGC noted. 

"Concurrently, global demand for jewellery was down 19 percent, as higher prices and industrial action in India and a softening of the economy in China meant many consumers delayed making purchases."

Investment demand stood at 618 tonnes in the first quarter, more than double the 278 tonnes seen during the equivalent period one year earlier.

The period saw "huge inflows" into so-called exchange traded funds (ETFs), it added.

In turn, gold rallied 17 percent in dollar terms during the reported period. The precious metal has continued to win support during the second quarter, reaching a 15-month high of $1,303.82 an ounce at the start of May.

On Wednesday, gold traded at $1,276.85 an ounce.

"Gold found favour as a risk diversifier due to the negative interest rate environment in Europe and Japan, combined with uncertainty over the Chinese economy, anticipation of slower interest rate rises in the US and global stock market turmoil," said the WGC. 

Alistair Hewitt, head of market intelligence at the industry body, said that "ongoing market uncertainty and unconventional monetary policies will continue to support both investment and central bank demand" for the precious metal. 

"This, combined with an expected recovery in India, should see gold demand remain healthy over the course of 2016,” he added.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today economic unrest fuels gold demand Arab Today, arab today economic unrest fuels gold demand

 



Arab Today, arab today
Arab Today, arab today Ideen Belmahdy happy to be part of “ Fashion Star”

GMT 17:00 2017 Sunday ,26 February

Ideen Belmahdy happy to be part of “ Fashion Star”
Arab Today, arab today 17.4m tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4m tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Ola Ghanem hopes to work with M.Ramadan

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 13:47 2017 Friday ,24 February

Rabia Fatima reveals role of "Facebook" in her career

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 05:41 2017 Monday ,27 February

Phone firms turn to AI at top mobile fair
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday