"Gross demand for gold jumped 104.8% by weight from the past 365-day average as Tehran's ensuing retaliation made headlines around the world, while selling fell 9.5%. BullionVault users bought over 79 kilograms of gold in total (2,552 Troy ounces) worth £10 million."
"Weekend gold demand typically runs to around 15% of the average week-day. It's a measure of how seriously investors view this new Middle East war that Saturday and Sunday saw gross demand for gold jump by 187% compared to the previous 5 days' level."
Following US-Israeli military strikes on Iran, gold demand surged dramatically on the 24/7 BullionVault marketplace. Gross demand for gold increased 104.8% by weight compared to the past year's average, while selling declined 9.5%. BullionVault users purchased over 79 kilograms of gold worth £10 million during the weekend when traditional coin retailers and stock market gold ETF trading were closed. Weekend gold demand typically represents only 15% of average weekday levels, making the 187% jump compared to the previous five days' activity a significant indicator of investor concern regarding the escalating Middle East conflict.
#gold-demand-surge #geopolitical-tensions #safe-haven-assets #iran-israel-conflict #investment-behavior
Read at London Business News | Londonlovesbusiness.com
Unable to calculate read time
Collection
[
|
...
]