The Fed continues to make hawkish arguments at the FOMC meeting
The industry's strong performance in the first half of this year was due to investments from the Middle East, Turkey and China, the report added. Gold ETFs lost 139 tonnes in the third quarter, but the outflow was smaller than -244 tonnes in Q3 2022.
Investment demand in the third quarter was 157 tonnes, up 56% year-on-year, but still weak compared to the five-year average of 315 tonnes.
Demand for jewelery decreased slightly due to higher gold prices, falling by 2% to 516 tonnes over the same period as gold prices continued to soar.
“Gold demand has remained stable throughout the year and remains strong despite the headwinds of high interest rates and a strong US dollar. Our report shows that gold demand is very high this quarter compared to the past five-year average. Louise Street, senior market analyst at Gold Council, said: ``Given rising geopolitical tensions and expectations that large-scale central bank buying will continue, gold demand could pick up unexpectedly going forward.'' There is a gender,” he said. World said in a statement.
This central bank buying spree is expected to continue for the rest of this year, with the annual total expected to increase significantly in 2023, according to the WGC.
Besides, the Fed is offering to maintain interest rates more to make it easier to control the economic crisis
Investment demand in the third quarter was 157 tonnes, up 56% year-on-year, but still weak compared to the five-year average of 315 tonnes.
Demand for jewelery decreased slightly due to higher gold prices, falling by 2% to 516 tonnes over the same period as gold prices continued to soar.
“Gold demand has remained stable throughout the year and remains strong despite the headwinds of high interest rates and a strong US dollar. Our report shows that gold demand is very high this quarter compared to the past five-year average. Louise Street, senior market analyst at Gold Council, said: ``Given rising geopolitical tensions and expectations that large-scale central bank buying will continue, gold demand could pick up unexpectedly going forward.'' There is a gender,” he said. World said in a statement.
This central bank buying spree is expected to continue for the rest of this year, with the annual total expected to increase significantly in 2023, according to the WGC.
Besides, the Fed is offering to maintain interest rates more to make it easier to control the economic crisis
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