Global gold demand surges 8% to three-year high as prices rally: WGC report

Global gold demand rose 8% in the first half of this year to the highest since 2016, driven by central bank buying and a flood of investment into gold-backed exchange traded funds (ETFs), the World Gold Council said on Thursday.

Retail investors however were put off buying bars and coins by a rapidly rising gold price, the WGC said in its latest Gold Demand Trends report. The price rally to six-year highs above $1,400 an ounce in June also saw gold holders cash in metal for profit, causing a boom in recycling that raised global supply.....

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