Last year recorded an increased demand for gold up to the levels of 2011
Demand for gold surged to an 11-year high last year. This is due to large-scale purchases on the back of high activity by retail investors and a slowdown of ETF outflows.
Annual gold demand rose 18% to 4,741 tons. Unprecedented demand for the yellow metal recorded in Q4, with a total of 1,337 tons, also contributed to the high performance of gold in 2022.
Investment demand (excluding over-the-counter) moved closer to 1,107 tons (+10%) in 2022. Gold bullion sales increased by 2%, reaching 1,217 tons. Meanwhile, ETF holdings declined less than seen in 2021 (-110 tons vs. -189 tons), attracting more investments in the precious metal.
There was a high demand for gold from the central bank at the end of two consecutive quarters, which amounted to 417 tons. Annual purchases of the yellow metal hit a 55-year high of 1,136 tons, but the majority of this volume has not been reported.
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Demand for gold surged to an 11-year high last year. This is due to large-scale purchases on the back of high activity by retail investors and a slowdown of ETF outflows.
1 FebruaryThe White House expressed a negative assessment of the record profit of Exxon Mobile in 2022. The company earned $56 billion, and it’s a maximum for both itself and the whole oil industry of Western countries.
1 FebruaryThe US Interior Department’s Bureau of Land Management supports an accelerated plan of oil production. It includes 3 new wells across the Willow site in the Petroleum Reserve-Alaska, instead of having 5 wells predetermined earlier.
1 FebruaryOn February 2, the focus is on natural gas reserves in the United States. On February 3, data on oil rigs from Baker Hughes and speculative positions on oil and gas, gold, silver, aluminum and copper are on the agenda.
2 FebruaryJapan was buying aluminum at a surcharge. Shipments from January to March were at $85-86 per ton, which is 13-14% less than in the previous quarter. Resources report weak demand and strong reserves of aluminum.
1 February