Massive stockpiling of gold by investors spooked by the coronavirus outbreak offset a collapse in jewellery production to keep global demand for the metal stable in the first three tumultuous months of 2020, the World Gold Council said on Thursday. “This is the biggest change to the market that I can remember,” said John Reade, the WGC’s chief market strategist. Over January-March, exchange traded funds (ETFs) storing gold on behalf of investors mainly in the United States and Europe added a whopping 298 tonnes worth some $16 billion to their hoard, the WGC said in its latest quarterly …read more
Source:: Yahoo Finance
