Gold's rally to record high could crimp demand: Russell

TradingKeyAug 5, 2024 1:03 PM

View all comments（0）



- 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.

Disclaimer: The content of this article solely represents the author's personal opinions and does not reflect the official stance of Tradingkey. It should not be considered as investment advice. The article is intended for reference purposes only, and readers should not base any investment decisions solely on its content. Tradingkey bears no responsibility for any trading outcomes resulting from reliance on this article. Furthermore, Tradingkey cannot guarantee the accuracy of the article's content. Before making any investment decisions, it is advisable to consult an independent financial advisor to fully understand the associated risks.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

Today’s Market Recap: Gold Falls Below $4,000, TSMC’s Strong Earnings Fail to Stop AI Trade Cooling, Chip Stocks Sold Off

TradingKey - On July 16, Eastern Time, the three major US stock indices closed lower collectively. Although US economic data remained robust and the start of the second-quarter earnings season was generally better than expected, a continued sell-off in semiconductor and AI hardware stocks weighed on

Micron Stock Price Prediction: MU Breaks $898 Support as Memory Boom Faces Capacity Risk

Micron posted record fiscal Q3 revenue of $41.46 billion and guided for $50 billion in Q4 sales, but MU has broken below $897.80 support as investors assess capacity growth and peak memory margins.

South Korean Stocks Closed to Avoid Storm, Japanese Stocks Plunge at Open, Nikkei 225 Tumbles 3%, Kioxia Slumps Over 15%

Japanese stocks extended their decline at the market open, with the Nikkei 225 falling more than 4%. Kioxia plummeted over 15%, and SoftBank dropped more than 7%.

Intel and Google Cloud Expand Strategic AI Collaboration, Bringing Gemini Enterprise to Full Semiconductor R&D Lifecycle

Tradingkey - Intel (INTC) announced Thursday that it has officially upgraded its multi-year strategic partnership with Google Cloud, a subsidiary of Google (GOOGL), to fully implement Google Cloud’s Gemini Enterprise model across Intel’s internal systems. The deployment covers two major areas—enterprise-wide office productivity and core chip R&D—to accelerate the semiconductor giant's end-to-end digital transformation. Under the agreement, Intel will roll out generative AI capabilities to its global workforce, optimizing the efficiency and scale of traditional workflows such as engineering, supply chain, and corporate operations. Simultaneously, by leveraging Google Cloud’s scalable infrastructure to upgrade its semiconductor R&D environment, Intel aims to compress chip design cycles through customized agent workflows and strengthen cross-departmental collaboration.

US Stocks Diverge, Philadelphia Semiconductor Index Slumps 4%: Micron Loses Trillion-Dollar Market Value, Market Expectations for Semiconductor Sector Too High, Short-Term Trading Enters Phase of Overextended Expectations

Tradingkey - On July 15 ET, the three major U.S. stock indices diverged. The Dow Jones rose independently, while the S&P 500 and the Nasdaq Composite Index retreated. The Philadelphia Semiconductor Index tumbled more than 4%, with all 30 constituents declining across the board. At the time of publication, the Dow Jones Industrial Average was up 0.17% at 52,745.56; the Nasdaq Composite Index fell 0.84% to 26,048.62; and the S&P 500 Index dropped 0.23% to 7,554.93.

Featured Tools