Global gold demand sees modest growth in Q1 to 1,083.8 tonnes on lockdown-led disruptions: WGC

-

Global gold demand during the January-March quarter grew 1 percent to 1,083.8 tonnes compared to the same period last year mainly due to heavy inflow in gold-backed ETFs as COVID-19 pandemic fuelled safe-haven investment demand for the yellow metal, a World Gold Council (WGC) report said.

World's gold demand during the first quarter of 2019 stood at 1070.8 tonne, according to WGC's Q1 Gold Demand Trends report.
Interest rates in the US, geopolitical tensions and global COVID-19 pandemic spurred demand for gold, with the gold-backed electronically traded funds (ETFs) attracting huge inflows of 298 tonnes, largely in the US, to push the global holdings in these products to a record high of 3,185 tonnes during the quarter under review.
Global gold demand sees modest growth in Q1 to 1,083.8 tonnes on lockdown-led disruptions: WGC
Representational image. Reuters
In the first quarter of 2019 gold-backed ETFs attracted an investment inflow of 42.9 tonnes, it added.
However, consumer-focused sectors of the market weakened sharply with jewellery demand hit hard by the effects of the outbreak. The quarterly demand dropped 39 percent to a record low of 325.8 tonnes compared to 533.4 tonnes in the same quarter of 2019, led by a 65 percent drop in China and 41 percent fall in India.
Meanwhile, the central banks continued to amass gold, although at a slower pace.
Amid heightened volatility and uncertainty, global gold reserves grew by 145 tonnes in the first quarter this year compared to 157 tonnes in the same period of 2019, witnessing a decline of 8 percent, the WGC report said.

Also see :

China sees post-lockdown rise in air pollution

https://pm03.blogspot.com/2020/05/view-coronavirus-conflict-is-world-war-3.html

Japan just fell into recession, and much worse could be on the way

https://pm03.blogspot.com/2020/05/japan-just-fell-into-recession-and-much.html

View: Coronavirus conflict is World War 3

https://pm03.blogspot.com/2020/05/view-coronavirus-conflict-is-world-war-3.html

COVID-19 vaccine current status: Here are the 9 top contenders for coronavirus vaccines


https://pm03.blogspot.com/2020/05/covid-19-vaccine-current-status-here_16.html
Please share and get updated with your friends !
Stay home, stay safe, live longer

Comments

Post a Comment

Popular posts from this blog

How to Learn Data science from scratch

-
Someone asked me recently how he could get the knowledge and the skills necessary to become a Data Scientist. There are different ways to learn data science, go to university, follow a bachelor or master in data science, get into a Bootcamp program, or learn it by yourself. Nowadays a lot of material is available on the internet, often for free, to learn the skills necessary for Data Science. There are three primary skills needed for Data Science 1) A programming language used in the data ecosystem, typically one of Python/R or Scala 2) SQL, for data manipulation and extraction, and 3) Statistics & Machine Learning. Python Assuming this is your first programming language, Python is an excellent language to learn. It is a general-purpose programming language with a broad ecosystem of data libraries. It is also relatively straight forward to learn and is often taught in introductory classes for computer science. It is good to start with a general introduction to computer science, rat
Read more

TikTok's ratings went upto 4.4 stars on Play Store after Google removed 8 million negative reviews

-
Image
From a disappointing 1.2, the ratings of TikTok have moved up to 4.4 after Google removed over 8 million negative reviews from the Play Store. Looks like TikTok has resumed its throne on  Google Play Store . From a disappointing 1.2, the ratings of TikTok have moved up to 4.4 after Google removed over 8 million negative reviews from the  Play Store . TikTok's ratings fell drastically after a post glorifying acid attack on woman went viral on the app. Not just the ratings on Play Store, Hashtags pressing TikTok to be banned and India against TikTok also started trending on Twitter. As per comment posting guidelines, Google can remove negative comments and ratings. A Google spokesperson told the  Gadgets 360  without specifically mentioning TikTok that actions are taken against inappropriate ratings when it is a case of spam abuse. "Play Store ratings enable users to provide helpful feedback about their experience with apps and content, for the benefit of others to make informed
Read more

Facebook CatchUp is new group calling app, 5 things to know

-
Image
Social media giant Facebook had announced a newgroup-calling app called the CatchUp. The CatchUp would allow users to set up group calls with up to 8 people. Social media giant Facebook had announced a new group-calling app called the CatchUp. The CatchUp would allow users to set up group calls with up to 8 people. However, there is a catch, it is not a video calling app but an audio-only app. The app is being developed by Facebook NPE. For video-calling services, Facebook had earlier released a  Messenger Rooms  app that can allow up to 50 people to connect in a single call. However, this is Facebook's first audio-only application. Talking about the CatchUp app Facebook had said in a blog post, "Keeping in touch with friends and family is important, especially during this time of physical distancing. Messaging and video calls are great ways to send a quick update or connect with someone face-to-face, but speaking to someone over the phone offers a unique balance of both conve
Read more