| Brexit and the global spread of negative bond yields sparked the biggest investor stampede into gold of any first half on record. Investment demand for the precious metal hit 1,064 tonnes in the first six months of this year, with overall gold demand, which includes spending on jewellery, hitting its highest level since the depths of the financial crisis in 2009, the World Gold Council said.
Alistair Hewitt, head of market intelligence at the council, said: “The expansion of unconventional monetary policy creates uncertainty but it also significantly reduces the opportunity cost of holding gold.”..............................................Full Article: Source
|