The United Nations’ climate change conference, COP26, finally wound up after two weeks in Glasgow and an extended period of ‘overtime’, as the world’s governments haggled over the exact nature of their commitments.
Retail demand strengthened in the month with festival and wedding purchases. Official imports were flat m-o-m as stocks remained ample and the average local market premium traded at flat
On November 9th the World Gold Council held an EVOLVE Investment Summit in Singapore. Our series of EVOLVE conferences explore the trends and issues shaping the future of finance. What happens in Asia is hugely significant for the gold market. India and China are the largest gold consuming markets, and other markets in the region including Singapore, Hong Kong and Japan are major trading centres for gold. In a post for goldhub, Dr Parag Khanna, one of this year’s keynote speakers, writes about the shifting economic centre of gravity and Asia’s role in the global economy.
The world appears to be poised for the next step in the evolution of money. Private cryptocurrencies have emerged as a potential new medium of exchange, although their long-term viability is yet to be proven. Central banks have also seized on the possibilities brought about by our highly digitised world with the development of central bank digital currencies, or CBDCs.
After five consecutive monthly inflows, collective holdings in Chinese gold ETFs reached 74t (US$4bn, RMB27bn) at the end of October, the highest AUM on record in tonnage terms. We cover this and more in our monthly blog on China's gold market.
In this episode of our Strategic Edge series, Joyce Chang, Chair of Global Research at J.P. Morgan, discusses market and allocation strategy trends with our Global Head of Research, Juan Carlos Artigas.
Our latest Gold Demand Trends report takes a detailed look at the global gold market in the third quarter. The fact that gold demand so far this year is down 9%, while the average gold price over the same period was 4% higher, exemplifies gold’s diversification benefits, thanks to its varied roles as an investment, consumer good and a reserve asset.
At the last monetary policy meeting held in October, the Reserve Bank of India (RBI) maintained its accommodative stance and kept its policy repo rate unchanged at 4%
