But: the pieces and ingots tear, the central banks buy in turn
Gold is on the rise.Jewelry, ingots, gold coins, high-tech...The physical demand for gold jumped in the fourth quarter, allowing the sector to recover in 2021 from the shock of 2020.The golden demand for the year 2021 was established at 4.021 tonnes, its highest level for two and a half years, with a jump of almost 50% in annual shift in the last three months of the year, according to the quarterly report of the World Gold Council (CMO)published Friday.Purchases of gold parts and ingots have even been at the highest for eight years, the precious metal having been sought as a parade to inflation that accelerated at the end of 2021.JohnMulligan, spokesperson for the CMO, notes "a strong recovery on the retail physical sales market, during this quarter but also of the year", especially in the jewelry and parts and bruising markets.
The annual consumption of jewelry increased by 52% in 2021, fully recovering blows by the pandemic.The soaring Indian demand has contributed to bringing the world total of the fourth quarter to 713 tonnes of gold, the highest since almost 9 years."The markets of India and China are very important from the point of view of seasonal demand," said JohnMulligan to AFP."In India, the wedding season is crucial: millions of people get married and all these ceremonies generally imply a certain level of gold," he continues.
This is the moment that families choose to protect some of their savings safe by changing them into ingots, necklaces, rings, bracelets and other gold objects, supreme value refuge.With the Pandemic of COVVI-19, "many of these weddings had to be canceled or postponed" and there was therefore a catch-up from the end of the year last year, continues M.Mulligan.In addition to weddings, Chinese consumers tend to buy gold products before the Lunar New Year, the most important party on the calendar.The release of this request chosen by the pandemic was therefore a key factor, with jewelry purchases that have reached 2.124 tonnes in 2021, "thanks to an exceptional fourth quarter" (713 tonnes), according to the World Gold Council.
In the year 2021, the use of gold in the technological sector - yellow metal found in the components of many electronic devices such as computers or mobile phones - increased by 9% to 330 tonnes.Central banks bought 463 tonnes of gold in 2021, 82% more than in 2020.However, in the fourth quarter of 2021, net purchases of central banks were 48 tonnes, lower level since the end of 2010, just after the financial crisis.A disaffection which is reflected in the course of the golden ounce.
The annual demand has straightened in almost all sectors with the notable exception of ETFs, these listed financial titles indexed on the course of yellow metal, which recorded net annual outings (173 tonnes).Most of these outings came from great American funds.
Pour JohnMulligan, ce phénomène concentré aux Etats-Unis s'explique par "un niveau important d'incertitude", "un signal adressé au marché qui n'est toujours pas clair".American investors are asking questions about "the state of the world economy, the recent revision of the decline in growth forecasts, on the persistence of the increase in inflation", with at the same time signs ofincrease in rates, as announced by the Federal Reserve (Fed) Thursday.In Europe on the other hand, the ETFs remained stable, according to the council data.
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