World Gold Council

Chinese investors withdrew a record $2.91 billion from domestic gold ETFs in June as a stock market surge and strong yuan reduced demand for gold, leading to a shift towards higher-risk, higher-return assets, according to the World Gold Council.

Chinese investors withdrew a record $2.91 billion from domestic gold ETFs in June, driven by a stock-market surge and a strong yuan reducing gold's appeal. The World Gold Council attributed the outflows to improved risk appetite, with investors shifting to higher-risk, higher-return assets.

The World Gold Council highlights Asian markets as a growing force in gold price discovery, noting rebounds during Asian trading hours and pullbacks when US markets are open. The report attributes this trend to heightened geopolitical concerns and shifting investor sentiment.

The World Gold Council highlights the growing influence of Asian markets on gold price dynamics, noting rebounds during Asian trading hours and pullbacks during U.S. market sessions. The report underscores gold's sensitivity to geopolitical tensions and shifting investor sentiment.

Central banks are expected to increase gold holdings as the US dollar's dominance in global reserves declines over five years, according to the World Gold Council. A survey indicates 90% of central banks anticipate continued growth in gold reserves, with 45% of respondents setting a record.

The World Gold Council states that diversification is driving China's increasing gold reserves, with expectations of continued additions by central banks in emerging markets. China's gold reserves reached 74.64 million troy ounces, up 260,000 troy ounces from the previous month.