Current context: In the first half of 2019, the global gold demand touched a 3-year high, as per the World Gold Council (WGC) report.
a. 3-year low
b. 3-year high
c. Stagnant since 2013
d. None of them
- The key drivers for the increase are sustained growth in gold-backed exchange-traded funds (ETFs) and continued central bank buying.
- The main factors for driving inflows in holding gold-backed ETFs are geopolitical instability, rallying gold prices in June and dovish commentary on monetary policy from central banks.
- According to the report, the overall jewellery demand in the 2nd quarter is pushed by 12% to 168.8 tonnes due to a strong recovery in India’s jewellery market.
- Gold has touched multi-year high in terms of price, breaching $1400/oz for the 1st time since 2013.
Question:
Q.1 According to the latest World Gold Council (WGC) report, the demand for gold is_____?a. 3-year low
b. 3-year high
c. Stagnant since 2013
d. None of them
