Mumbai, April 30 -- World Gold Council or WGC stated in its latest Gold Demand Trends update that total Q1 global gold demand (inclusive of OTC investment) was 1% higher y/y at 1,206 tonnes (t) - the highest for a first quarter since 2016. Central banks bought 244t of gold in Q1, a slowdown from the previous quarter but comfortably within the quarterly range of the last three years.
A sharp revival in gold ETF inflows fuelled a more-than-doubling of total investment demand to 552t (+170% y/y); its highest since Q1'22. Bar and coin demand remained elevated at 325t - 15% above the five-year quarterly average. China drove much of this increase, posting its second-highest quarter of retail investment.
Technology demand of 80t was unchanged y/...