Central bank gold demand hits first-quarter record, investments surge on U.S. banking turmoil

CNBC/Elliot Smith/5-7-2023

graphic image showing gold coins against a chart backdrop“Gold prices broke through the $2,000 per ounce barrier this week and are flirting with record highs as global economic uncertainty, a possible pause in Federal Reserve interest rate hikes and potential further trouble in the U.S. banking sector drive investors toward the precious metal.”

USAGOLD note: This article summarizes the World Gold Council’s Demand trends for the first quarter of 2023. Of interest, gold ETFs experienced “significant” inflows. Bar and coins demand was up 5% with the US posting its best quarter since 2010.

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