Gold demand surpasses $100 billion globally as western investors rush in

Quick Summary:

Gold - which set a record above $2,782 an ounce in Wednesday's trading - has registered gains every month this year, apart from a minor pullback in January, and in June, when prices were flat.

Looking ahead, fiscal concerns — especially about swelling levels of government debt in the US — may become more pronounced as a driver, according to Reade.

Gold has stormed higher this year, rallying by more than a third and setting successive records.

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Article Details

Category: BusinessFinance

Markets: IndiaChinaHungaryPolandUkraine

Topics: $100 billion Geopolitical uncertainty Western investors Bullion FOMO buying Central bank buying Investment flows Gold demand ETFs World Gold Council Third quarter

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 12:54:54 (1 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 511 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 25 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 23335875

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