Exceeding demand in the first half of 2009.
by World Gold Council
Mine Web
Global gold demand reached 2,335 tonnes (t) in the first half of 2016 with investment reaching record first half levels, 16% higher than the previous record in 2009, according to the World Gold Council’s latest Gold Demand Trends report.
The second quarter in 2016 continued in the same vein as the first quarter this year with overall gold demand growing to 1,050t, up 15% from the Q2 2015 figure of 910t, boosted by considerable and consistent investment demand. Investment demand reached 448t as investors sought risk diversification and a safe store of value in the face of continued political, economic and social instability. Exchange traded funds (ETFs) had a stellar first half of the year at almost 580t due to the additional inflows in Q2 of 237t. Bar and coin demand was also up in a number of markets in Q2, including the US at 25t (up 101%), leading to H1 bar and coin investment of 485t, 4% higher than the first half last year.