The surge in the demand for gold over the second quarter was fuelled by the growing use of ETFs, the World Gold Council says.
According to the WGC's Gold Demand Trends report, the largest contribution to the rise in gold demand came from ETFs tracking the precious metal, which grew by 414% to 291.3 tonnes. WGC says this represents the second highest quarter of growth on record. Investment in physical gold bars also increased, by 29% from Q2 last year to reach 96.3 tonnes. Generally, investment demand for gold soared by 118% to hit 534.4 tonnes, far above the 245.4 tonnes in Q2 last year. In total, gold demand in the second quarter rose by 36% to 1,050 tonnes, mirroring a strong appetite compared with t...
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