Gold demand proves resilient despite Q2 selloff as central banks return and Asian buying remains strong - WGC - KITCO
Gold demand proves resilient despite Q2 selloff as central banks return and Asian buying remains strong - WGC - KITCO
Source: KITCO
―
DW NOTE
The WGC can frame Q2 as a "selloff" because gold only fell to $4,163 from its January peak of $5,318. Call it what it is: a 22% drawdown that still leaves the metal up 26% year-over-year while central banks keep buying and the Fed holds rates at 3.63% against 5.5% producer inflation. When real rates are negative and sovereigns are net accumulators, a correction is just governments getting a better entry price.