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In the first quarter of this year, the demand for gold in the world compared to the same period last year showed an increase of 7%, amounting to 1,053.3 tons. As reported by the World Gold Council, the quarterly growth rate was recorded due to the increase in central metal purchases of this precious metal, as well as due to the inflow of funds into gold exchange-backed ETF funds secured by gold. The quarterly increase in purchases of central banks by 68% in annual terms was a record since 2013. At the end of March, the total volume of gold acquired by central banks amounted to 145.5 tons. In India, the jewelry industry increased demand by 5% to 125.4 tons, which was the highest quarterly indicator since 2015. The inflow into the ETF, backed by gold, increased over the year by 49%, amounting to 40.3 tons. At the same time, in the first quarter, the demand for gold bars decreased. In the past quarter, electronics, wireless technology and LED lighting companies also reduced the demand for this precious metal.
On Friday, Caterpillar Inc (CAT.N) announced a lower second-quarter profit because of the recession caused by the coronavirus outbreak. The decline was due to lower sales volume and changes in dealer inventories. During the second quarter ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
Samsung Electronics Co Ltd looks forward to the second half of the year as it expects a larger increase in chip demand brought by new smartphone launches. However, the company warned that the coronavirus crisis and trade disputes carry risks. Samsung, ...
The second quarter had seen Australian consumer prices dropping by a record. This could be attributed to the coronavirus crisis dragging child care cost and petroleum prices, inflicting a serious damage to years of growth toward higher inflation. Last ...
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