JOHANNESBURG (miningweekly.com) – Synchronised global economic growth, shrinking central bank balance sheets, rising interest rates, insubstantial asset prices and market transparency are the trends that will be gold’s best friends in 2018, the World Gold Council said on Tuesday.
These trends, the council said in delivering its outlook for gold in the new year, would maintain gold’s relevance as a strategic asset and with greater transparency ensuring that customers are better served.
Outlining how gold had outperformed all major asset classes except stocks in 2017, the council reported an $8.2-billion inflow into gold-backed exchange-traded funds and a 13.5% gold price rise in dollars, the greatest yearly gain since 2010. In the first three quarters of last year, US jewelry demand hit a seven-year high and China’s consumer demand increased by 12%. Read full article here