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:
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.
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.