Featured Report
2023 Chinese jewellery market insights: Gold continues to lead the market
As Chinese jewellery retailers shook off the pandemic, many strode into 2023 with strong expectations. But the recovery has been bumpy. In the face of economic uncertainties and the record-level renminbi (RMB) gold price, understanding current trends and future possibilities is fundamental to jewellers’ businesses.
Outflows continued in August
Physically-backed gold ETFs saw net outflows of US$2.3bn in July, equivalent to a 34t reduction in holdings. Despite this, total assets under management (AUM) increased by 2% m/m to US$215bn as a rebound in gold price more than offset negative flows.
Outflows decelerated in July
Physically-backed gold ETFs saw net outflows of US$2.3bn in July, equivalent to a 34t reduction in holdings. Despite this, total assets under management (AUM) increased by 2% m/m to US$215bn as a rebound in gold price more than offset negative flows.
Gold Demand Trends Q2 2023
Central bank buying slowed in Q2 but remained resolutely positive. This, combined with healthy investment and resilient jewellery demand, created a supportive environment for gold prices.
Gold investment market and financialisation: India gold market series
India is one of the world’s largest gold bar and coin markets. Investment demand for gold is driven by its safe-haven appeal and the ability to convert these products into jewellery at a later stage.
Gold Mid-year Outlook 2023: Between a soft and a hard place
Developed market central banks are nearing the end of their tightening cycles.1 For now, market consensus points to a mild contraction in the US in late 2023 and slow growth in developed markets.
Outflows result in H1 disinvestment
Global gold ETFs experienced net outflows of US$3.7bn (56t) in June, calling a halt to their three-month inflow streak. June’s outflow caused global gold ETF demand during H1 2023 to turn negative, leaving collective holdings of global gold ETFs at US$211bn (3,422t).
Gold ETF commentary: May inflows turn y-t-d gold ETF demand positive
Global gold ETFs saw the third consecutive monthly inflow of US$1.7bn, primarily driven by the gold price strength in early May and uncertainties around the US debt ceiling negotiations. May took y-t-d global gold ETF flows to positive territory at US$1bn, led by North American funds.
Recession concerns sustain gold ETF inflows in April
Global gold ETFs continued to see positive demand in April: net inflows totalled US$824mn while holdings increased 15t. North American funds led global inflows, adding nearly US$1bn. Fund flows in Europe turned negative again in the month (-US$223mn), led by Germany.
Gold Demand Trends Q1 2023
Continued momentum in central bank buying and resurgent Chinese consumer demand contrasted with a negative contribution from ETFs and weakness in India.
