Investor appetite for gold remains undeterred by prices that have soared to record highs against a backdrop of geopolitical instability and weakening confidence in the US dollar.
Global gold demand rose 3 per cent year on year in the three months to June, a period when the price of the haven asset reached a record of $3,500 per troy ounce and remained at elevated levels, the World Gold Council, which represents gold miners, said in its quarterly report on Thursday.
Inflows into gold exchange traded funds remained strong, with global demand during the first half of the year at its highest since 2020. Overall investment demand — including the buying of ETFs, gold bars and gold coins — rose 78 per cent year on year.
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