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Featured Report
Gold demand in 2018 reached 4,345.1t, up from 4,159.9t in 2017. This was exactly in line with five-year average demand of 4,347.5t.
Gold demand was 964.3t in Q3, just 6.2t higher y-o-y. Robust central bank buying and a 13% rise in consumer demand offset large ETF outflows.
Gold demand stayed soft in Q2, dropping to 964.3t. The H1 total of 1,959.9t is the lowest since 2009.
Gold demand of 973.5t was the lowest Q1 since 2008. The main cause was a fall in investment demand for gold bars and gold-backed ETFs, partly due to range-bound gold prices.
India, a nation that accounts for around a fifth of annual global gold demand, has a long history of gold-focused policies. These, however, have often distorted the market rather than achieving policymakers’ aims. Announcements in the Union Budget on 1 February 2018, however, suggest this might change.
Gold demand rallied in the closing months of 2017, gaining 6% year-on-year (y-o-y) to 1,095.8 tonnes (t) in Q4. But it was too little, too late: full year demand fell by 7% to 4,071.7t.
This report covers key stages in the hallmarking journey in order to ascertain what works best in other jurisdictions and how India can maximise the benefits of mandatory hallmarking.
The third quarter saw a 9% year-on-year (y-o-y) drop in gold demand to 915 tonnes (t). Year-to-date (y-t-d) demand was down by 12%. ETFs had another quarter of positive inflows, but at 18.9t, they fell far short of the 144.3t influx in Q3 2016.