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World Gold Council: Gold ETFs and over-the-counter (OTC) investments will benefit from the macroeconomic winds in 2025, and central banks will continue to maintain (gold purchase) policies. Although demand for gold bars and coins is strong, it may slow down in some major markets, and continued strong gold prices may further erode jewelry consumption. Supply may see annual growth, while supporting conditions for scrap metal recycling and mineral production.1. The trading volume of WTI crude oil futures was 1,314,987 lots, a decrease of 154,512 lots from the previous trading day. The open interest was 1,764,284 lots, a decrease of 16,273 lots from the previous trading day. 2. The trading volume of Brent crude oil futures was 199,904 lots, a decrease of 25,003 lots from the previous trading day. The open interest was 162,488 lots, a decrease of 11,811 lots from the previous trading day. 3. The trading volume of natural gas futures was 493,509 lots, a decrease of 264,236 lots from the previous trading day. The open interest was 1,560,504 lots, a decrease of 11,626 lots from the previous trading day.On February 5, the World Gold Council said in a new report on gold demand trends that total gold demand in 2024 increased by 1% year-on-year to an all-time high of 4,974.5 tons. Driven by record prices brought about by geopolitical and economic uncertainty and investors search for safe-haven assets, the value of this demand soared to $382 billion. Gold demand reached a record $111 billion in the fourth quarter. Louis Street, senior market analyst at the World Gold Council, said: "Geopolitical uncertainty remains high, which will always be a factor supporting investment in gold, whether it is shifting from concerns about military conflict to uncertainty in trade conflicts." The report said that geopolitical and economic uncertainty will remain high in 2025, and it seems very likely that central banks will once again use gold as a stable strategic asset.World Gold Council: Total gold supply to 2024 grows at 1% per year as both ore supply and recycling grow. Preliminary estimates show that ore production peaked at 4,974 tonnes in our data series.World Gold Council: Gold jewelry consumption fell 11%, hit by record high prices. On the other hand, demand soared to a record $144 billion.

Once Again, Gold Plunges While the Dollar Soars; 'Hot Inflation' Data Awaited

Haiden Holmes

Jul 13, 2022 11:01

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Gold has retreated to the mid-$1,700 level as a result of another day and another twenty-year high for the dollar.


Gold futures for August delivery settled at $1,724.80 per ounce on the New York Comex, down $6.90, or 0.4%.


Even though the week has just begun, the gold benchmark contract on the Comex is already down 1%. This extends gold's four-week decline, which has resulted in a cumulative loss of $150, or 8%, since the week ending June 3. Gold has declined by 6 percent year-to-date.


The Dollar Index, which measures the U.S. dollar to six other major currencies, has surpassed 108 since October 2002.


"Gold prices are clinging to life as the dollar's surge hits a key milestone," said OANDA analyst Ed Moya.


"Gold will eventually see safe-haven flows, but only after a firm dollar peak has been established. The very volatile inflation figures scheduled to be released tomorrow will likely challenge gold's capacity to sustain its position above $1700.


Inflation in the United States has been at four-decade highs since late last year, with the widely followed Consumer Price Index climbing at an annualized rate of 8.6 percent as of May. The report for June is expected to show an 8.8 percent increase on Wednesday.


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