China’s gold market in June: Chinese gold ETF holdings rose despite a fall in the gold price

International gold prices fell steeply in June. The weakness in the gold price can be largely attributed to the more-hawkish-than-expected monetary-tightening signals from the US Federal Reserve’s meeting on 18 June.  But the decline in the RMB gold price was narrower than that of the USD gold price, thanks to a 1.6% depreciation in the CNY against the dollar last month. 

Posted 2 years 3 months ago

India’s gold market in May: retail demand collapsed amid COVID-induced lockdowns

Summary

  • The domestic gold price ended 5.1% higher in May at Rs48,993/10g 
  • Retail demand collapsed amid COVID-induced lockdowns in the country 
  • Indian official imports slowed and the local market flipped to discount 
  • Monthly inflows into gold ETFs slowed as higher returns lured investors towards the equity market. Total holdings for Indian gold-backed ETFs (gold ETFs) reached 33.2t by the end of May; a net inflow of 0.1t (Rs2.9 bn; US$39mn)
  • The Reserve Bank of India (RBI) added 0.9t of gold to its reserves in the month increasing its total gold reserves to 696.2t.
     

Posted 2 years 4 months ago

Increasing trust in the gold market

The World Gold Council has published its first German-language investor guidance for retail investors on gold. Launched in collaboration with BayernLB, one of the largest banks in Germany, the guidance helps private investors to evaluate providers, ask the right questions, and understand what products are best suited for them.

Posted 2 years 6 months ago