For those that missed it, World Gold Council released a report a few days ago about the gold trends in 2016. World Gold Council report highlights:
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2016 was the second best year for ETFs on record. Global demand for gold-backed ETFs and similar products was 531.9t – the highest since 2009. Q4 saw outflows.
- The gold price ended the year up 8%. Having risen 25% by the end of September, gold relinquished some of its gains in Q4 following Trump’s conciliatory acceptance speech and the FOMC’s interest rate rise.
- 2016 saw a 7-year low for jewellery demand.bRising prices for much of the year, regulatory and fiscal hurdles in India and China’s softening economy were key reasons for weakness in the sector.
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India’s shock demonetisation policy brought the market to a virtual standstill. An initial rush for gold following the policy announcement came to a swift halt in the ensuing cash crunch.
You may download the full report report here.