Gold hoarding to gather pace next year – Refinitiv Metals Research

Omkar Godbole FXStreet Contributor

Investors are likely to hoard gold at a faster pace in 2021, keeping prices elevated amid reduced demand from Jewellers and central banks, Refinitiv Metals Research said, according to Reuters.

Key quotes/points

Jewellery demand will fall 31% to 1,327 tonnes this year before rising 9% to 1,447 tonnes in 2021.
Central bank purchases will plunge by half to 312 tonnes this year and recover slightly to 385 tonnes next year.
Exchange-traded funds (ETFs), which store metal for investors, are seen stockpiling 1,205 tonnes this year, three times the amount in 2019, and another 1,362 tonnes in 2021, the most ever.

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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