59060
Gold Demand  at 7-Year Low  in 2016
World Economy

Gold Demand at 7-Year Low in 2016

After three years of losses, gold prices rebounded in 2016 and as a result physical gold demand dropped 20%, its lowest since 2009, according to GFMS analysts at Thomson Reuters. What’s more, the gold market reached the biggest physical surplus of the century, at 1,176 tons, up from just 220 tons in 2015. “Gold prices have started 2017 making up some of the losses from late last year. However, the US dollar is likely to remain a substantial headwind to further price rises, at least in the first half of 2017,” analysts said. Buying of jewelry, coins and bars, plus official sector and industrial demand, fell to 3,349 tons last year from 4,184 tons in 2015. 

Short URL : https://goo.gl/MXzMWp
  1. https://goo.gl/wUalf8
  • https://goo.gl/aVVJ7x
  • https://goo.gl/9wSt5U
  • https://goo.gl/H9ughc
  • https://goo.gl/spg0rL

You can also read ...

Business confidence fell to its lowest level since August 2013 and around 7% of companies expected a contraction.
According to data from the International Monetary Fund in...
China Warned of Ballooning SOEs
Former chief of the World Bank Robert Zoellick cautioned China...
Shrinking unemployment in the US, Japan and the eurozone finally forces companies  to lift wages to retain and attract staff.
Workers in the world's richest countries are getting their...
New Zealand Q2 GDP Growth Picking Up
New Zealand’s economic growth is expected to have accelerated...
Saudi Sovereign Fund Secures $11 Billion Loan
Saudi Arabia's sovereign wealth fund said Monday it had...
Lira Eases Against Dollar
Turkey’s lira weakened against the dollar on Monday as...
By 2025 more than half of all current workplace tasks  will be performed by machines.
Robots will handle 52% of current work tasks by 2025, almost...
Myanmar Businesses Want Lower Taxes
Myanmar businesses are urging the government to lower the...

Add new comment

Read our comment policy before posting your viewpoints

Trending

Googleplus