Page 42 - Bullion World issue 2

Bullion World | Issue 02 | June 2021

Global economic
recovery drives first-

quarter platinum demand
higher

As the global economy continued to recover, boosted
by widespread stimulus measures, demand for platinum
increased by 26% or about 405 000 oz year-on-year to
more than 1.9-million ounces in the first quarter, the World
Platinum Investment Council (WPIC) notes in its latest
‘Platinum Quarterly’ report.

Source: https://www.miningweekly.com

Gold ETFs Have Been
Regaining Their Luster

Gold briefly touched a four-month high as money managers
and investors increased exposure to precious metals exchange
traded funds. Meanwhile, hedge fund managers have raised
their long-only position in U.S. futures and options by 12% from a
week earlier, or the most since June, while Bloomberg data show
ETF investors have hoarded bullion for the past six sessions after
months of redemptions, Bloomberg reports.Gold prices have
rebounded off their March lows on a weakening U.S. dollar and
signals that the Federal Reserve will maintain its accommodative “Following months of outflows, returning speculative
monetary policy to support the economic rebound, despite interest could ultimately spark a breakout” in gold, TD
signs of rising inflation. Analysts also project that further gains in Securities analysts led by Bart Melek said in a note.
consumer prices could provide additional support for gold as a
better store of wealth.
Source: https://www.etftrends.com

Swiss gold exports to China
rebound after coronavirus

slump

Swiss exports of gold to mainland China surged in April to their highest
since December 2019,

customs data showed, as demand for gold in the world's biggest bullion
consuming nation rebounded from a slump during the coronavirus
pandemic. Switzerland is the world's largest gold refining centre and
transit hub. Its numbers provide an insight into global market trends. Swiss
customs data show exports of 40.2 tonnes of gold worth around $2.5
billion at current prices to China in April – more metal than was sent in the
last 14 months combined. Switzerland also sent 10.1 tonnes of gold to
Hong Hong, the most since January 2020.

Source: https://www.reuters.com/

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