The surge in gold demand was primarily supported by a significant 53 per cent increase in over-the-counter transactions, which reached 329 tonnes
The partnership coincides with the official opening of WGC’s new office in Dubai, establishing its regional headquarters for the Middle East
Renewed strength in the greenback has now seen bullion tumble more than 20 per cent since a March peak
Since peaking in March, gold prices have tumbled 18 per cent as the Federal Reserve’s rate hikes caused mass liquidation by financial investors
Bullion just capped a fourth straight week of gains, the longest such run in almost a year
Bullion initially jumped on August 10 after the US consumer price index decelerated by more than expected in July
The WGC report revealed net buying by central banks more than doubled from the previous quarter, adding over 84t to official gold reserves during Q1 2022
Spot gold rose as much as 1 per cent to $1,928.80 an ounce, the highest level since January 2021