Demand for gold is on the rise
Posted on: 03/Feb/2017 5:29:08 PM
With inflows into gold backed Exchanged Traded Funds in the US, increase in bullions in China during final quarter, an increase in gold demand by 2 percent is observed in the Indian market, claims World Gold Council data.
The demand for gold has increased by 2 percent globally and has reached 4309 tonne which is the highest ever since 2013. Inflow of gold backed ETFs of about 532 tonne has geared this up.
As there was dip in price in November and owing to currency weakness, the demand for bullions had increased in China during the fourth quarter. The overall investment demand is also boosted by 70 percent until a four year high of 1561.
The Brexit and the US elections said that the continued global economic and political uncertainty have caused the overall increase in investment demand.
