12.08.2016 - Demand for gold increased by 15%
The World Gold Council published a report according to which the demand for gold in the second quarter rose by 15% to 1,050 tons compared with the same period last year. The main reason was an increase in investment demand on the background of low interest rates and rising uncertainty on financial markets, which stimulated interest for defensive assets such as gold. It should be noted, the expected growth of consumption of gold in the second quarter due to the holiday season in China and India. Given the high probability of correction on the stock markets, we expect continued growth in gold with the first target at 1400 per troy ounce.