Gold demand up 1% in 2024, to remain supported by economic uncertainty: WGC

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Prices hit another all-time high on Tuesday, driven by safe-haven demand after China retaliated with tariffs on the United States in response to President Donald Trump's trade levies.

The National Bank of Poland was the largest such buyer, adding 90 tonnes to its reserves, the WGC, an industry body whose members are global gold miners, said in a quarterly report.

It estimates that OTC demand fell 7 per cent due to a slump in the final quarter of the year as profit-taking offset persistent demand from high-net-worth investors.

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Category: BusinessFinance

Markets: IndiaChinaPolandUnited States

Topics: CEO Gold India's gold demand WGC Reuters Festival of Lights Precious metal NIFTY 50 INDEX Sachin Jain World Gold Council World Gold Council New Delhi Rajendra Jadhav

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Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-02-05 @ 12:13:26 (10 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

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