EUR/USD
1.16970
-0.129%
Gold
4586.01
-0.243%
Oil
97.301
-0.187%
USD/JPY
159.721
0.067%
GBP/USD
1.34962
-0.158%
GBP/JPY
215.568
-0.082%
Real-time News
On April 29th, the World Gold Council released its Q1 2026 "Global Gold Demand Trends Report," showing that global physical gold ETFs maintained net inflows in Q1, with global holdings increasing by 62 tons. Asian investors bought a significant 84 tons, while holdings in European and American markets saw a slight decline – net outflows from Western markets in March reversed the strong inflow momentum at the beginning of the year. Affected by high gold prices, global gold jewelry demand declined by 23% year-on-year to 300 tons. Demand for gold jewelry generally cooled in major global markets. However, in terms of spending, gold jewelry demand bucked the trend, indicating that even with historically high gold prices, consumers willingness to buy gold jewelry remains robust.On April 29th, the World Gold Council released its Q1 2026 "Global Gold Demand Trends Report," showing that global gold demand (including OTC transactions) reached 1,231 tons in the first quarter, a 2% year-on-year increase. While the increase in gold volume was moderate, the total value of demand surged to a record $193 billion, a significant 74% year-on-year increase. Strong gold prices and rising safe-haven demand drove a 42% year-on-year increase in global gold bar and coin investment, reaching 474 tons, continuing to drive structural changes in the global gold demand landscape. Chinas demand for gold bars and coins surged 67% year-on-year to 207 tons, a new quarterly high. Demand for gold bars and coins also increased in other Asian markets such as India, South Korea, and Japan. Demand for gold bars and coins in the US and European markets also saw strong growth, increasing by 14% and 50% year-on-year, respectively.On April 29th, RBC Capital Markets stated that it expects the Bank of Canada to keep interest rates unchanged for the fourth consecutive time, with policymakers closely monitoring the impact of rising energy prices on inflation. Overall CPI in April is likely to exceed the 1% to 3% target range for the first time since December 2023. However, interest rate policy cannot influence global oil prices, and its impact on the economy is lagged, meaning the central bank needs to base monetary policy on future inflation levels rather than current inflation. The Bank of Canada is expected to proceed cautiously as long as inflation expectations and broader inflationary pressures (excluding rising energy prices) remain under control. The Bank of Canadas Business Outlook Survey showed a rise in inflation expectations, but signs of further slowing in the March "core" indicators should allow the central bank to maintain policy flexibility in assessing new data and its recent forecasts. First-quarter GDP growth was broadly in line with the January forecast, and recent data suggests a modest recovery in economic momentum. The labor market also shows signs of stabilization, but the unemployment rate remains low, insufficient to indicate that underlying inflationary pressures are intensifying, meaning there is limited urgency for further policy adjustments in the near term.UK Housing Minister Reed: We are not considering rent control.On April 29th, Thomas Hulick, CEO of Strategy Asset Managers, stated that with the market widely expecting Federal Reserve Chairman Powell and the Federal Open Market Committee to keep interest rates unchanged, the key variable now is energy. Futures markets show oil prices above $85 per barrel, continuing to push up inflation expectations and exacerbating intraday volatility in U.S. Treasury yields. As long as Middle East tensions involving Iran and the issue of a potential blockade of the Strait of Hormuz remain unresolved, the bond market will continue to be sensitive to inflation risks. "Thats why were still hearing discussions about a possible rate hike later this year," he added. For yields to return to normal, oil prices may need to fall back to the $70 per barrel range. "Once energy prices stabilize, inflation expectations should fall accordingly, allowing U.S. Treasury yields to return to more fundamental levels."
