Latest news with #JohnReade
See - Sada Elbalad
31-07-2025
- Business
- See - Sada Elbalad
Global Gold Demand Rises in Q2 Despite Decline in Central Bank Purchases
Waleed Farouk A report released Thursday by the World Gold Council revealed an increase in global demand for gold during the second quarter of 2025, driven by a surge in investment demand despite a slowdown in central bank purchases. According to the report, total global demand for gold — including over-the-counter (OTC) trading — rose by 3% year-on-year to reach 1,248.8 tonnes in Q2, supported by a 78% increase in investment demand. However, central bank purchases saw a notable decline, with acquisitions totaling 166.5 tonnes during the second quarter — roughly one-third less than in the first quarter. This pullback led to the lowest first-half purchase levels by central banks since 2022. In terms of consumption, global demand for gold jewelry dropped by 14% to 341.0 tonnes, marking its lowest level since the third quarter of 2020. Commenting on the findings, John Reade, Chief Market Strategist at the World Gold Council, explained that when gold prices rise significantly, the incentive for central banks to increase their holdings weakens. He noted that the rapid price gains have prompted concerns about potential price corrections, which in turn dampened demand, according to remarks reported by Bloomberg. read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News Israeli-Linked Hadassah Clinic in Moscow Treats Wounded Iranian IRGC Fighters Arts & Culture "Jurassic World Rebirth" Gets Streaming Date News China Launches Largest Ever Aircraft Carrier News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Videos & Features Tragedy Overshadows MC Alger Championship Celebration: One Fan Dead, 11 Injured After Stadium Fall Business Egyptian Pound Undervalued by 30%, Says Goldman Sachs Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Arts & Culture South Korean Actress Kang Seo-ha Dies at 31 after Cancer Battle Arts & Culture Lebanese Media: Fayrouz Collapses after Death of Ziad Rahbani Sports Get to Know 2025 WWE Evolution Results
ABC News
16-07-2025
- Business
- ABC News
Could the gold rally slow because of the tick-up in US inflation in May?
World Gold Council's John Reade looks back at why gold finished the first half of 2025 as one of the highest performing asset classes, soaring 26 per cent to the end of June. But the Council's senior market strategist John Reade says the outlook now depends heavily on US monetary settings.
South China Morning Post
13-06-2025
- Business
- South China Morning Post
Gold 2.0 or just a fallacy? Crypto can't chip away at gold's safe-haven shield: researcher
Cryptocurrencies – including bitcoin and stablecoins – are not an alternative to gold, nor do they pose a threat to its role as a safe-haven investment, an expert with the World Gold Council said. Advertisement John Reade, the senior market strategist and head of research at the association, said that long-term demand for gold remains well supported amid mounting concerns over US dollar assets, persistent trade and geopolitical tensions, and the economic fallout of tariffs. 'Bitcoin and other digital assets have been marketed as an improved version of gold … as 'gold 2.0' or 'digital gold',' Reade told the Post. 'That's a fallacy, in my opinion.' He pointed out that cryptocurrencies tend to move in tandem with equities – unlike gold, which typically acts as a hedge during market volatility – and stressed that these digital assets do not represent 'any risks or comparison' to gold. 'I'm not concerned about digital assets being a threat to gold,' he added on Thursday. 'I wish the proponents of digital assets would stop marketing them as 'gold 2.0', when they very clearly have different characteristics.' Advertisement His comments came as market interest in stablecoins and other digital currencies continues to grow, alongside a fresh rally in gold prices amid heightened Middle East tensions and a weakening US dollar.
Yahoo
14-04-2025
- Business
- Yahoo
Chinese gold ETFs April inflows surpass first quarter total, WGC says
LONDON (Reuters) - Investment flows into Chinese physically backed gold exchange-traded funds so far this month have exceeded those for the whole of the first quarter and overtaken inflows registered by U.S.-listed funds, World Gold Council data showed. Gold ETFs in China increased by 29.1 metric tons in the first eleven days of April, John Reade, senior market strategist at the WGC, said on social media on Monday. That compares with the inflows of 23.5 tons registered in January-to-March. "If the first quarter of this year was dominated by the U.S. tariff-related gold flows and Western ETF buying, the second quarter may have a very different theme, that of a surge in investor interest in gold from China," he said. While U.S-listed funds led activity in the first quarter, so far in April they have lagged China, with inflows of 27.8 tons, according to the data. Gold, considered by many investors as a hedge against geopolitical and economic risks, is up 22% so far this year, having hit a record high of $3,245.42 per ounce on Monday, driven by uncertainty triggered by U.S. President Donald Trump's policy of tariffs. Tit-for-tat tariffs between the U.S. and China drove the yuan to a 2007 low against the dollar last week. The Chinese currency has lost about 0.6% since April 2, when Trump announced his reciprocal tariffs. Global gold ETFs, which store bullion for investors, registered the largest quarterly inflow in three years in January-to-March. The gold premium in China ended last week at 1% above the London benchmark compared to 0.2% a week earlier. Dealers charged premiums of between $24 and $54 an ounce. [GOL/AS] One gold trader, speaking on condition of anonymity, said global bullion banks had been "unusually active" in China last week, importing significant quantities of gold due to this high premium. Sign in to access your portfolio
Reuters
14-04-2025
- Business
- Reuters
Chinese gold ETFs April inflows surpass first quarter total, WGC says
LONDON, April 14 (Reuters) - Investment flows into Chinese physically backed gold exchange-traded funds so far this month have exceeded those for the whole of the first quarter and overtaken inflows registered by U.S.-listed funds, World Gold Council data showed. Gold ETFs in China increased by 29.1 metric tons in the first eleven days of April, John Reade, senior market strategist at the WGC, said on social media on Monday. That compares with the inflows of 23.5 tons registered in January-to-March. "If the first quarter of this year was dominated by the U.S. tariff-related gold flows and Western ETF buying, the second quarter may have a very different theme, that of a surge in investor interest in gold from China," he said. While U.S-listed funds led activity in the first quarter, so far in April they have lagged China, with inflows of 27.8 tons, according to the data. Gold, considered by many investors as a hedge against geopolitical and economic risks, is up 22% so far this year, having hit a record high of $3,245.42 per ounce on Monday, driven by uncertainty triggered by U.S. President Donald Trump's policy of tariffs. Tit-for-tat tariffs between the U.S. and China drove the yuan to a 2007 low against the dollar last week. The Chinese currency has lost about 0.6% since April 2, when Trump announced his reciprocal tariffs. Global gold ETFs, which store bullion for investors, registered the largest quarterly inflow in three years in January-to-March. The gold premium in China ended last week at 1% above the London benchmark compared to 0.2% a week earlier. Dealers charged premiums of between $24 and $54 an ounce. One gold trader, speaking on condition of anonymity, said global bullion banks had been "unusually active" in China last week, importing significant quantities of gold due to this high premium.
