Gold's rally to record high could crimp demand: Russell
TradingKeyAug 5, 2024 1:03 PM
- Gold has surged by 18.5% this year, reaching a record high, but its success might hinder consumer buying due to the price increase.
- The World Gold Council's report for the second quarter showed a record total demand of 1,258.2 metric tons, with noticeable shifts in demand trends.
- Demand from institutional investors surged by 53%, while jewellery consumption dropped by 19%, signaling a potential slowdown in consumer purchases.
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