Commodities Buzz: WGC Expects Gold Consumption Demand To Pick Up In Near Term

12 Sep 2022 , 12:40 PM

The World Gold Council or WGC noted in a latest update that Gold could remain under pressure if the central banks continue to hike aggressively, but the risk of either stagflation or outright recession could offset this, as gold has historically outperformed in such environments. Near-term, it expects trading volumes and consumer demand to pick up in September. Gold fell 2% in August, as higher yields and a stronger dollar continued to exert pressure. Managed money net positioning in gold turned positive during the month, while global gold ETF outflows of 51t (US$2.9bn) were lower than Julys Powered by Commodity Insights