The Germans have bought in the first half of the year, striking a lot of physical Gold and a lot of traps also international slightly out of the frame. The Figures of the industry organization World Gold Council (WGC) gold demand in the first half of the year, which were released on Thursday. Therefore, German investors have bars in the first six months of this year, and coins with a total weight of 83.5 tons purchased, which was an increase of more than 100 percent compared to the same period last year.
editor in the economy.F. A. Z.
In all over the world, however, the demand for bars and coins declined in the first half of the year, even 17 percent, to 396,7 tons. There was apparently an East-West divide: While in the Western part of the world because of the Corona a crisis of Gold was bought, dropped the paragraph, for example, in Asia and the Middle East – and also because of the Corona-crisis.
High inflows into ETF
A record that is likely to have price inspired, recorded, meanwhile, the inflows into exchange-traded funds ("Exchange Traded Funds" ETF's) of Gold. These funds acquired in the first half of the year, 734 tons of Gold. At the end of June, the stock of the precious metals have located to this Fund at 3621 tonnes, as much as never before. In the second quarter alone, the inflows rose in the Fund when compared to the same period last year by more than 300 percent to 434,1 tons. So the old record with the inflows from the financial crisis, the time had almost been reached. Then, in the first quarter of 2009, had amounted to the inflows in such gold funds 465,7 tons.Chart-Gold 1 year of Gold -- -- (--) Deutsche Bank Citigroup Forex vwdForex vwdForex vwdForex vwdCrossratesCrossratesCrossratescrossratescrossratescrossratescrossrates 1T 1W 3M 1J 3J 5J For detail view
jewelry demand breaks
The demand for gold for jewelry production all over the world, however, is broke. They fell by 46 percent to 572 tonnes. The amount requested was approximately one-half of the Ten-year average. In the second quarter of observed global been a decline of 53 percent, still more, the slump in this period in the classical gold-jewelry-India at minus 74 percent, was a little weaker in China with minus 33 per cent. The decline in gold jewelry demand, especially in the Close by jewelry shops and production facilities in many countries have certainly played in the course of the shutdown a role, but probably also the least high price, says the World Gold Council. Similar reasons have led to the demand for gold for technological applications has fallen by around 13 per cent to 140 tonnes. The gold purchases of the Central banks decreased in the first half of the year compared with the record figures of the prior-year period to 233 tons. On the other hand, the supply of Gold, also by corona-induced failures in the mines, and in the case of the Recycling company decreased by 6 percent to 2192 tons have.Updated Date: 31 July 2020, 06:20