Buy gold $XAU Breaking: World Gold Council lowers its gold demand forecast—and here's why
The World Gold Council has lowered its forecast for total investment growth in the precious metal this year to 200 metric tons, down from its previous estimate of 400 tons, reflecting a noticeable cooling in investors’ appetite for holding gold bars and coins. This pessimistic revision comes as spot gold prices face severe pressure, pushing them to their lowest levels in a year during Friday’s trading and deepening their losses to 29% from the record peak they reached last January at $5,595 per ounce. This sharp price setback is mainly attributed to the economic fallout from the war in Iran, which has driven global oil prices sharply higher, in turn stoking expectations that interest rates will remain elevated to counter inflationary pressures.
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The World Gold Council has lowered its forecast for total investment growth in the precious metal this year to 200 metric tons, down from its previous estimate of 400 tons, reflecting a noticeable cooling in investors’ appetite for holding gold bars and coins. This pessimistic revision comes as spot gold prices face severe pressure, pushing them to their lowest levels in a year during Friday’s trading and deepening their losses to 29% from the record peak they reached last January at $5,595 per ounce. This sharp price setback is mainly attributed to the economic fallout from the war in Iran, which has driven global oil prices sharply higher, in turn stoking expectations that interest rates will remain elevated to counter inflationary pressures.
#BinanceReopensWithdrawalsForHYPE&APT #SouthKoreaDraftLawTargets15To20%ShareholderCap #KeplrAdvisesSocialLoginUsersToTransferAssets #TetherPlans€28.8MForJuventusCapitalIncrease $XAG
