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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.

Asian Shares Fall As Investors Analyze ECB Decisions

Charlie Brooks

Jun 10, 2022 11:14

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Asia-Pacific equities were predominantly lower on Friday morning. Ahead of U.S. inflation statistics, investors are analyzing the European Central Bank's signals for potential interest rate hikes.


At 10:49 PM ET (2:49 AM GMT), the Nikkei 225 was down 1.41 percent, and the KOSPI was down 1.08 percent.


In Australia, the ASX 200 index declined 0.99%.


The Hang Seng Index in Hong Kong fell 0.89 percent.


As a result of the Chinese government's response to a Bloomberg article, the sub-index for Hong Kong-listed IT giants opened 2.9 percent lower. Alibaba (NYSE:BABA) Group Holding Ltd.'s U.S.-listed shares plummeted after the China Securities Regulatory Commission dismissed a Bloomberg report that it was exploring a listing resurrection for the fintech company.


The Shanghai Composite rose 0.10 percent, but the Shenzhen Component rose 0.02 percent.


China's manufacturing factory-gate inflation slowed to its worst pace in 14 months in May, according to previously released data. In May, the producer pricing index (PPI) increased by 6.4% annually, compared to an increase of 8% in April. The reading was the lowest since March 2021. The cooling could be attributable to decreased demand for steel, aluminum, and other industrial commodities as a result of COVID-19-related production disruptions.


Meanwhile, the consumer price index (CPI) increased 2.1% annually.


The European Central Bank (ECB) announced on Thursday that it will prepare a quarter-point increase in interest rates in July and a larger increase in the fall if inflation remains high. Inflation in the eurozone has already surpassed 8 percent.


Short-term U.S. Treasury rates are near all-time highs for 2022 due to a selloff in the euro-area bond market in response to ECB rate rise indications.


The ECB also announced that net asset purchases will halt on July 1, 2022.


Now, investors have moved their attention to U.S. inflation data, due later in the day, for additional hints on the course of interest rate hikes by the U.S. Federal Reserve.


Bloomberg quoted Charles Schwab (NYSE:SCHW) & Co.'s chief financial strategist Liz Ann Sonders as saying, "We've reestablished the inverse relationship between bond rates and stock prices."


"There is a little more discussion, or whispering, about the CPI being a touch above forecasts. Add to that the ECB's more hawkish posture, and you get another bad day."


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