13.05.2016 - Gold price rally in Q1 best in 30 years: WGC
The enthusiasm with which investors renewed their appetite for gold ETFs in Q1 saw prices of the yellow metal (in US dollar terms) rally 17 per cent in in the first quarter of calendar year 2016 (CY16), says the latest World Gold Council report. Gold closed the quarter at $1,237/oz, 17 per cent above the end-2015 price of $1,060/oz. Gold demand, on the other hand, grew 21 per cent to 1,289.8 tonnes - the strongest Q1 on record. Inflow into gold exchange traded funds (ETFs) at 363.7 tonnes in the first quarter of calendar year 2016 (CY16) also hit a seven-year high...............................................Full Article: Source
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