The World Gold Council (WGC) reports that gold posted a small gain in 2022, commenting that this was no mean feat given an unprecedented rise in rates and a strong US dollar.
The WGC writes that 2022 was a textbook example of gold’s stable and uncorrelated performance amid market turbulence and that weak institutional demand was offset by retail investment – driven by inflation and geopolitics – and central banks had an exceptional year of net buying.
Global gold ETFs registered net outflows of USD3 billion (110t) in 2022, the WGC writes, and
North America, Europe and Asia all contributed to the overall fall in global holdings over the year.
December was the eight consecutive month of negative demand (-4t m-o-m) but the third consecutive month the pace tonnage outflows slowed.
