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Bangkok Post
Bangkok Post
Business

Gold demand surges amid jitters

Gold WGC the World Gold Council United States
The World Gold Council says central bank purchases of gold should continue throughout the year.

Global demand for gold among investors is growing this year thanks to turmoil in the banking sector, geopolitical tensions and a challenging economic environment, leading more people to flock to the precious metal as a safe-haven asset, says the World Gold Council (WGC).

The WGC's latest Gold Demand Trend report indicated demand for gold bars and coins grew 15% year-on-year to 1.9 tonnes in the first quarter of 2023 from 1.6 tonnes a year earlier, while local jewellery demand fell 6% during the period to 2.1 tonnes.

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