Gold demand rebounds, but headwinds loom | Fin24

A confluence of factors last year caused gold demand to shake off some of its pandemic-induced losses, but obstacles are anticipated in the year ahead.

2022-01-28 08:51:00 AM

A confluence of factors last year caused gold demand to shake off some of its pandemic-induced losses, but obstacles are anticipated in the year ahead.

A confluence of factors last year caused gold demand to shake off some of its pandemic-induced losses, but obstacles are anticipated in the year ahead.

Jack Vearey/ GettyGold demand grew last year as investors bought gold bars and coins and central banks added to their holdings.Consumers too splurged on jewellery and use of gold in technology also grew.Rising interest rates are expected to be a headwind for the yellow metal in the year ahead.

Gold demand surged last year as retail investors flocked to the safe haven asset and consumers splashed out on jewellery.Demand for the yellow metal recovered last year to reach over 4 000 tons, following on Covid-19-induced losses from 2020, the World Gold Council’s latest Gold Demand Trends Report found.

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