Thursday, April 30

We released our Q1-20 GDT this morning. Large changes in the drivers of #gold demand this quarter with strong investment demand and much less consumer purchases.

Supply down 4% too, as mine supply and recycling both hit by COVID-19 interruptions.

Strong ETF demand was a key feature of the strength in #gold demand this quarter.

#Gold jewellery demand fell to record lows in Q1-20.

When Indians are better able to access the gold market we expect a wave of scrap supply and loans against #gold jewellery. Read more from our MD in India, @SomPR_WGC in this Reuters story.

Friday, May 1

Gold is trading at $1676/oz nearing noon in the UK on Friday, attempting to consolidate after the sell-offs seen on Thursday and Friday morning.

This move in US Real yields is probably responsible for the sell-off in #gold on Thursday, mixed in with some rebalancing flows, perhaps?

If it was profit-taking in #gold on Thursday, it wasn't apparent from #ETF flows, which increased modestly on the day according to Bloomberg's robots.

Rounding out the month of April flows into #gold-backed ETFs, our (very) provisional numbers show 168t of net infows, mostly into US-based funds.

We will publish our comprehensive commentary with better-verified data next week.

Read more from John Reade on Twitter.