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07.05.202112:02 Forex Analysis & Reviews: World Gold Council: There is an improvement in the gold market

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The World Gold Council (WGC) said it saw some improvement in the market.

In particular, European funds saw an influx of gold during the previous month, which happened for the first time since January.

Based on the report, gold funds from North America led the outflow in April, with total stocks falling by 28.4 tons, while in turn, the European funds received 10.6 tons.

The report also notes an influx of investment in low-cost ETFs.

Juan Carlos Artigas, Head of Research at the WGC, said the rise in electronic money transfers to cheap gold is an indication that investors are trying to lower their costs as they build long-term strategic positions into their portfolios.

Despite the fact that investment demand was disappointing at the beginning of the year, WGC analysts believe that growth will resume in the second half of 2021. He also noted that gold is under the influence of rising bond yields, which is an obstacle for gold in the short term.

The WGC's optimistic outlook for investment demand is driven by the fact that gold prices have surpassed $ 1,800 an ounce for the first time since early February.

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