Global Q1 gold demand up 34% amid geopolitical and economic uncertainty – The National

Global Q1 gold demand up 34% amid geopolitical and economic uncertainty – The National

Global gold demand surged 34 per cent in the first quarter of 2022, driven by strong exchange-traded fund (ETF) inflows, as investors boosted their investments in safe-haven assets amid heightened geopolitical and economic uncertainty, according to the World Gold Council.

ETFs are a basket of securities consisting of stocks, bonds, commodities or other financial assets that track global markets.

Gold demand in the three months to the end of March jumped to 1,234 tonnes — the highest since the fourth quarter of 2018 and 19 per cent above the five-year average of 1,039 tonnes — as investors sought a safe haven in view of the Ukraine conflict and inflationary pressures, the trade body said in a report.