The Year of the Ox Looks Golden

The Year of the Ox Looks Golden

#China #LunarNewYear #Ox #gold $XAU $GLD China’s economic recovery from its virus casedemic may offer some encouragement to gold bulls, as expectations are building that jewelry demand will rebound. Jewelry retailers on the Mainland are reporting strong sales recently as consumer are buying online. The slow start to Y 2020 saw demand in China, the world’s biggest […]

Gold Demand at 11-yr Lows

Gold Demand at 11-yr Lows

#Gold #demand $XAU $GLD $USD Global demand for gold fell to its lowest mark in 11 yrs in Y 2020 on significant stockpiling by investors and collapsing sales of jewelry. The China Virus chaos transformed the geography of the gold trade, driving gold from Asia to Europe and the US, where investors are the dominant […]

Gold ETFs Amass $34-B of Gold in 5 Months, More Than Any Full Year

Gold ETFs Amass $34-B of Gold in 5 Months, More Than Any Full Year

$XAU $GLD Gold backed ETFs added 623 tonnes of the precious Yellow metal worth $34-B to their stockpile from January to May, exceeding in 5 months every full-year increase on record, the World Gold Council (WGC) said Thursday. In May alone, the increase was 154 tonnes, it said. Many investors think gold is likely to […]