About half of all the gold mined globally is converted into jewellery, with a large part being sold to consumers in India and China.
That is why the World Gold Council (WGC) believes household demand across the major markets, in addition to central bank purchases, will help buttress the yellow metal’s prices through 2022.
“It is often assumed that gold’s price behaviour is linked to investment demand, especially from financial instruments such as gold ETFs (exchange-traded funds), over-the-counter contracts, or exchange-traded derivatives,” the WGC wrote in a recent report.
KEFI Gold and Copper plc (LON:KEFI) is an exploration and development company focussed on gold and copper deposits, primarily in the highly prospective Arabian-Nubian Shield.