Current Affairs

World Gold Council (WGC) report on Global Gold Demand

Current context: In the first half of 2019, the global gold demand touched a 3-year high, as per the World Gold Council (WGC) report.
World Gold Council (WGC) report on Global Gold Demand  
  • The key drivers for the increase are sustained growth in gold-backed exchange-traded funds (ETFs) and continued central bank buying.
  • The main factors for driving inflows in holding gold-backed ETFs are geopolitical instability, rallying gold prices in June and dovish commentary on monetary policy from central banks.
  • According to the report, the overall jewellery demand in the 2nd quarter is pushed by 12% to 168.8 tonnes due to a strong recovery in India’s jewellery market.
  • Gold has touched multi-year high in terms of price, breaching $1400/oz for the 1st time since 2013.

Question: 

Q.1 According to the latest World Gold Council (WGC) report, the demand for gold is_____?
a. 3-year low
b. 3-year high
c. Stagnant since 2013
d. None of them
World Gold Council (WGC) report on Global Gold Demand World Gold Council (WGC) report on Global Gold Demand Reviewed by Neha on August 02, 2019 Rating: 5

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