World Gold Council: Geopolitical tensions escalate, global central banks continue to buy gold recklessly
王俊杰2017
发表于 2023-11-1 11:49:56
301
0
0
The World Gold Council (WGC) released its "Global Gold Demand Trends Report" for the third quarter of 2023 on Tuesday. The report shows that as market turmoil and geopolitical uncertainty drive demand for gold, global central banks maintain a strong buying trend, providing support for gold demand.
Data shows that in the third quarter, global central banks net purchased 337 tons of gold, lower than the record low of 458.8 tons in the same period last year. However, since the beginning of 2023, the net purchase volume of central bank gold has reached 800 tons, setting the latest record since the association had this data.
Spot gold hit a high of $2009.29 per ounce on Monday, breaking the critical psychological threshold of $2000 for the first time since mid May as investors aggressively bought gold in search of safety after the Israeli-Palestinian conflict.
Investors believe that as the war continues, countries such as Iran, Syria, and Lebanon are at risk of being involved, and the cloud of war will envelop the entire Middle East region. If this situation occurs, it is expected that gold prices will further rise in the future.
Louis Street, senior market analyst at the World Gold Council, said: "With increasing geopolitical tensions and expectations of continued strong central bank buying, gold demand may unexpectedly rise
In addition to the central bank's purchase of gold, the investment demand for gold is still relatively limited, reaching 156.9 tons in the third quarter, a year-on-year increase of 56%, but far below the five-year average of 315 tons.
The World Gold Council believes that central banks are expected to continue to maintain strong demand for gold purchases for the remainder of this year. In addition, the demand for gold in the third quarter (excluding over-the-counter trading) was 1147 tons, 8% higher than the five-year average.
John Reade, Chief Market Strategist at the World Gold Council, said: "The strong demand from the central bank confirms our view that last year's growth was not a one-time event." He expects gold demand this year to reach or exceed last year's levels.
Read added that geopolitical uncertainty has always been the main driving force for central bank gold demand, and the current war in Gaza has further added upward pressure.
Due to a decrease in demand from European countries, the demand for gold bars and coins in the third quarter was 296.2 tons, a year-on-year decrease of 14%. However, the demand so far this year is still at the same level as in 2022, which is the largest demand year in nearly a decade.
The demand for gold by ETFs remained negative in the third quarter, with a net outflow of 139.3 tons of gold from ETFs during the quarter. The World Gold Council believes that this is because investors expect interest rates to remain high, and the Federal Reserve will not cut rates soon. The strong US dollar has led to outflows from gold ETFs. Another speculation is that gold buyers hope to hold physical gold, rather than some "position data".
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
猜你喜欢
- Fearless of the resurgence of Black Monday? More than half of economists expect Bank of Japan to raise interest rates again in December
- Gold hits a new high! The price of gold jewelry has risen to 778 yuan/gram! What is the global value of gold? Answer: $20 trillion
- Swiss central bank announces interest rate cut! Europe sets off a storm of interest rate cuts
- Suddenly announced! Bank of New Zealand cuts interest rate by 50 basis points!
- Global highlights for next week: The European Central Bank steps onto the path of accelerating interest rate cuts, while the US stock market welcomes a season of low expected financial reports
- The latest revelation confirms that the Bank of Japan is not in a hurry to raise interest rates in October, as the yen exchange rate falls to a critical level
- This year, gold has broken history for the 34th time
- The Bank of Canada's' big move '! Cutting interest rates by 50 basis points heralds a new phase of monetary easing
- A sharp drop of 6%! Geopolitical premium 'squeezes water', international crude oil will face new tests
- Chairman of Mitsubishi UFJ Financial Group: Bank of Japan interest rates may hit 1% by March 2026
-
知名做空机构香橼研究(Citron Research)周四(11月21日)在社交媒体平台X上发布消息称,该公司已决定做空“比特币大户”微策略(Microstrategy)这家公司,并认为该公司已经将自己变身成为一家比特币投资基金 ...
- caffycat
- 昨天 11:18
- 支持
- 反对
- 回复
- 收藏
-
每经AI快讯,11月20日,文远知行宣布旗下自动驾驶环卫车S6与无人扫路机S1分别在新加坡滨海湾海岸大道与滨海艺术中心正式投入运营。据介绍,这是新加坡首个商业化运营的自动驾驶环卫项目。 ...
- star8699
- 3 天前
- 支持
- 反对
- 回复
- 收藏
-
上证报中国证券网讯(记者王子霖)11月20日,斗鱼发布2024年第三季度未经审计的财务报告。本季度斗鱼依托丰富的游戏内容生态,充分发挥主播资源和新业务潜力,持续为用户提供高质量的直播内容及游戏服务,进一步 ...
- goodfriendboy
- 3 天前
- 支持
- 反对
- 回复
- 收藏
-
人民网北京11月22日电 (记者栗翘楚、任妍)2024广州车展,在新能源汽车占据“半壁江山”的同时,正加速向智能网联新能源汽车全面过渡,随着“端到端”成为新宠,智能驾驶解决方案成为本届广州车展各大车企竞 ...
- 3233340
- 昨天 17:06
- 支持
- 反对
- 回复
- 收藏