World Gold Council Published Latest Gold Market Trends

SEATTLE (Scrap Monster): The latest episode of the official podcast titled ‘Unearthed’ by the World Gold Council (WGC) unveiled the latest gold market trends including ETF outflows, ongoing central bank buying and the upcoming Central Bank Gold Reserves Survey. In addition, it also analyses how fiscal concerns and global uncertainty continue to drive gold’s appeal.

In contrast to the months before, gold failed to conquer new highs in May this year, according to WGC’s senior gold market strategists. The price of the commodity stood more or less unchanged when compared with the month before.

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A rise in inflation expectations and a lack of follow through in US dollar plunge in April contributed positively to gold’s return, whereas ETFs continued to register outflows during the month. Global physical-backed gold ETFs lost $1.8 billion in May this year. All regions recorded outflows, except for Europe, which registered mild inflows.

The central banks across the globe collectively added around 12 tonnes of gold to their reserves in April. However, this marked the second slowest month of gold accumulation during the current year.

Looking ahead, WGC sees many U.S. economic indicators getting soft going ahead. Risks on account of high tariff rates continue to remain elevated, although they are currently being paused.