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Strong demand for gold coins and bars in the first quarter

May 3, 2021, author: Editorial.

Gold is more than ever a safe haven for depositors around the world. According to the World Gold Council, consumer demand for coins and bars has reached a new level in four years.


Rescue shelter


Strong demand for gold coins and bars in the first quarter

A quarterly report from the World Gold Council, a worldwide federation of major gold producers, confirms the people’s appetite for gold. The latter’s investment in coins and bullion increased 36% in the first quarter to 339.5 tonnes. This is unheard of since Q4 2016; Moreover, this is the third consecutive quarter of growth in bullion and coin prices.

This craze for gold is attributed to falling prices: an ounce of gold has indeed fallen since its all-time high in August 2020, when it was worth more than $ 2,000. Now its price is about $ 1,700. Good for all those who seek to preserve the value of their savings in uncertain economic and health conditions, as well as at a time when cryptocurrencies are still highly fluctuating.


Central banks are filling up

Demand in Turkey has doubled in the wake of the political and economic turmoil that brought down the Turkish lira and triggered inflation. Chinese demand increased 133% year on year, reaching 86 tonnes in the first quarter. In the United States, people bought 26 tons of gold, double the average for the past five years.

But not only people are interested in gold. The World Gold Council has noted the interest of central banks in the precious metal! If their gold reserves have dropped in one year, they are increasing compared to the last quarter of 2020. Meanwhile, the demand for electronic components has increased by 11% in one year.




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