Buyers flock to safety amid uncertainty
Global demand for gold among investors is growing this year thanks to turmoil in the banking sector, geopolitical tensions and a challenging economic environment, leading more people to flock to the precious metal as a safe-haven asset, says the World Gold Council (WGC).
The WGC’s latest Gold Demand Trend report indicated demand for gold bars and coins grew 15% year-on-year to 1.9 tonnes in the first quarter of 2023 from 1.6 tonnes a year earlier, while local jewellery demand fell 6% during the period to 2.1 tonnes.
Overall consumer demand for gold in the country…
