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Largest gold ETF inflows in three years boosted demand for yellow metal in the third quarter

05 November 2019


A surge in speculation led to an increase in gold demand in the third quarter, according to a World Gold Council report released Tuesday.Exchange-traded fund inflows shot higher by the largest amount since the first quarter of 2016, in what the council attributed to accommodative monetary policies, safe-haven and momentum buying. During the third quarter, the Federal Reserve cut interest rates twice, and the European Central Bank cut interest rates in a package of easing measures.


Leading gold ETFs include the SPDR Gold Trust GLD, -1.62%, iShares Gold Trust IAU, -1.66%   and the Aberdeen Standard Physical Swiss Gold Shares ETF SGOL, -1.51%.Overall gold demand rose just 3% during the quarter, as jewelry demand shrank by 16% as the yellow metal’s prices rose.Gold futures GC00, +0.32%  were holding above the $1,500 an ounce level on Tuesday and have climbed by 19% over the last 12 months.Central-bank buying fell by 38%, as the third quarter of 2018 featured the highest amount of buying on record. Bar and coin demand dropped by half.The gold supply rose by 4%, helped by a 10% increase in recycling.