The Wall Street Journal: Gold Demand Climbs as Investors Seek Safe Havens, WGC Says
Article by Giulia Petroni in The Wall Street Journal
Global demand for gold accelerated in the third quarter, when investors turned to safe-haven assets due to growing geopolitical uncertainty and a weaker U.S. dollar, according to a new report by the World Gold Council.
“Heightened geopolitical tensions, stubborn inflationary pressures and uncertainty around global trade policy have all fueled appetite for safe-haven assets as investors look to build resilience in their portfolios,” said Louise Street, senior market analyst at the WGC.
Total demand rose 3% on year in the quarter to 1,313 metric tons, fueled by strong ETF buying and retail investment in physical products like bars and coins, the industry body said Thursday.
Gold-backed ETFs inflows reached $26 billion, led by North American-listed funds, while central-bank purchases also picked up pace in the third quarter, with net purchases rising .....