31 July 2024
Gold prices remain resilient despite broader commodity sector declines, driven by strong demand from family offices, wealthy individuals, and central banks.
The World Gold Council reported record Q2 demand, with gold reaching new price highs. While consumer demand in the West has weakened, Eastern markets show robust interest in bars, coins, and ETFs. The prospect of earlier US interest rate cuts has reignited investor interest, leading to increased ETF holdings.
This combination of factors supports gold’s current strength and positive outlook for the remainder of 2024.