Kavita Chacko
Research Head, India World Gold CouncilIndia’s gold market update: demand takes a breather following festival rush
Gold rose to a new all-time high in mid-May before pulling back, likely on profit taking, to close the month at US$2,343/oz. This delivered a 1% monthly increase, adding to gains in March (9%) and April (5%).
Ray Jia
Research Head, China World Gold CouncilChina’s gold market in May: gold ETFs continued to attract attention while consumption cooled
In May, China’s wholesale gold demand fell as gold jewellery consumption and bar and coin sales cooled. Meanwhile, the local central bank didn’t report any gold purchase during the month. But the bright spot came from the gold ETF market which extended the inflow streak to six months.
Krishan Gopaul
Senior Analyst, EMEA World Gold CouncilCentral bank gold buying picks up in April
The rapid rise in the gold price during March raised several questions. One of these was whether central banks – whose demand has been posited as a key reason for the recent rally – would change their gold buying behaviour in response.
Unearthed Podcast
World Gold CouncilUnearthed: Critical Minerals and the Case for Gold ft. George Burns, Eldorado Gold Corporation
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In this episode of "Unearthed," hosts Joe Cavatoni and John Reade speak with George Burns, President and Chief Executive Officer, Eldorado Gold, discussing critical minerals and the role of gold in our world.
Kavita Chacko
Research Head, India World Gold CouncilIndia’s gold market update: festival acts as a catalyst for demand
International and domestic gold prices moderated from the April peaks but ended the month with gains following the notable price rise of March. After a weak March and April, there was resurgence in gold demand around the Akshaya Tritiya festival. Domestic gold prices continue to trade at a discount in relation to the international prices, but the discounts have narrowed from a month ago. Meanwhile, the RBI added to its gold reserves in April and gold ETFs witnessed outflows for the first time in 12 months.
Sarah Tomlinson
Director of Mine Supply Metals FocusHigher gold price eases pressure on producer margins
In Q4’23 gold miners’ global average all-in sustaining costs (AISC) rose again, up 2% q/q to US$1,342/oz as persistent cost inflation and a tight labour market continued to influence on-site operating costs. There is a silver lining however, because the rate of increase is slowing and the higher gold price has eased pressure on producer margins.
Ray Jia
Research Head, China World Gold CouncilChina’s gold market in April: investment demand remained strong
In April, China’s wholesale gold demand climbed further as strong investment demand canceled off jewellery sector weaknesses. Chinese gold ETFs registered their strongest month on record whilst the local central bank announced gold purchases for the 18th consecutive month.
Krishan Gopaul
Senior Analyst, EMEA World Gold CouncilCentral bank gold statistics - March 2024
Central banks reported 16t of net buying in March via the IMF and other public data sources. Demand remained healthy: monthly gross purchases were steady m/m at 40t, partly offset by gross sales of 25t.
Kavita Chacko
Research Head, India World Gold CouncilIndia’s gold market update: unprecedented gold price rises, suppressed consumer demand and rising official gold reserves
International and domestic gold prices have risen to unprecedented levels. The price surge has impacted jewellery demand but stimulated investment (bar and coin) demand. Domestic gold prices continues to trade at a discount in relation to the international prices. Meanwhile, the RBI added to its gold reserves in March, inflows into gold ETFs moderated and imports saw a sharp fall.
Charles Crowson
Former macro portfolio manager and authorGold – and the jobs money does
Ray Jia
Research Head, China World Gold CouncilChina’s gold market in March: official gold reserves rose further, wholesale demand fell slightly
In March, China’s official gold holdings rose for the 17th consecutive month and inflows into local gold ETFs continued. Meanwhile, withdrawals from the Shanghai Gold Exchange fell slightly, leading to a lower local gold price premium. Nonetheless, wholesale demand recorded the highest Q1 total since 2019.
Unearthed Podcast
World Gold CouncilUnearthed: Gold outlook for 2024 and beyond featuring Randy Smallwood, President & CEO Wheaton Precious Metals
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Krishan Gopaul
Senior Analyst, EMEA World Gold CouncilCentral banks bolster gold reserves further in February, albeit at a slower pace
Data for February shows that reported global central bank gold reserves rose by 19t, the ninth consecutive month of growth. At the same time February’s buying was 58% lower than January’s total of 45t.
Kavita Chacko
Research Head, India World Gold CouncilIndia’s gold market update: high prices dent consumer demand
International and domestic gold prices alike touched record high in early March. The price surge presents headwinds for gold demand, even in the face of the ongoing wedding season. Domestic gold prices is trading at a discount in relation to the international prices with demand being crimped by high prices. Meanwhile, the RBI added to its gold reserves in February, inflows into gold ETFs maintained positive momentum and imports saw a sharp rise.
Ray Jia
Research Head, China World Gold CouncilChina’s gold market in February: demand steady, gold reserves higher
Wholesale gold demand in China was healthy during February and the local central bank reported its 16th consecutive monthly gold purchase. Meanwhile, Chinese gold ETFs continued to attract investors. Supported by steady demand, the local gold price premium stayed elevated. But gold consumption may cool in coming months due to seasonality and the record-level gold price.
Juan Carlos Artigas
Global Head of Research World Gold CouncilYou asked, we answered: What’s behind gold’s March rally?
Gold has reached continuous highs in March and is trading close to US$2,200/oz. While this can be partly explained by a weaker USD, higher risk and momentum, other factors such as ‘technicals’ and OTC activity likely accelerated the move.
Krishan Gopaul
Senior Analyst, EMEA World Gold CouncilCentral banks accumulate more gold in January – starting 2024 as they mean to go on?
In January, central banks reported that they increased global official gold reserves by 39t. This was more than double the (revised) December net purchases of 17t, and the eighth consecutive month of net purchases.
Unearthed Podcast
World Gold CouncilUnearthed: Hard, soft or no landing ft. Karim Chedid, BlackRock
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In this insightful episode hosted by John Reade and Joseph Cavatoni from the World Gold Council, guest Karim Chedid, Head of EMEA Investment Strategy for iShares and a Managing Director at BlackRock, discusses the current macroeconomic environment.