Dig Deep Gold Continuing to Ebb and Flow in Today’s Ever-Changing Economic Climate with Krishan Gopaul
In this episode, we chat with Krishan again, a Senior Analyst at the World Gold Council and discuss some of the Gold Demand Trends in Q2 and Q3 of this year. He and Rob also discuss the Gold Market outlook for the remainder of the year and the start of 2023.
KEY TAKEAWAYS
- The war in Ukraine led to gold market prices coming off slightly during Q2 of 2022.
- Chinese lockdowns have also had an impact during Q2.
- Q3 saw substantial outflows of around 227 tonnes from ETFs.
- For Q3 the coin and bar sector was robust, and jewellery and central bank purchasing was also up.
- If you register at goldhub.com you get access to all the datasets the World Gold Council uses.
- Jewellery underwent a firm recovery. Krishan explains how and the role China had in this.
- When inflation is high, initially private individuals tend to move money into gold which typically holds its value better.
- How gold performs now depends on whether the primary focus is on inflation or on interest rates. Why is explained in the episode.
- Crypto has been quite turbulent, and some of those investors are turning to gold.
- Central banks have bought a record amount of gold, and many are planning to continue to do so. Why is explained, in the podcast.
- Upcoming festivals and celebrations usually lead to an uptick in demand for gold jewellery. That should still happen in Q4, but inflation may make this spike smaller.
BEST MOMENTS
‘Quarter two was slightly weaker than what we saw in quarter one. ´
‘Jewellery demand overall in q3 was back up to those pre-COVID levels.’
‘It could be that some people are looking to gold, given the turbulence that we've seen in the crypto space,’
EPISODE RESOURCES
Website: www.Goldhub.com and www.gold.org
Twitter: https://twitter.com/KrishanGopaul
VALUABLE RESOURCES
mailto:rob@mining-international.org
https://www.linkedin.com/in/rob-tyson-3a26a68/
http://www.mining-international.org
https://twitter.com/MiningConsult
https://www.facebook.com/MiningInternational.org
https://www.youtube.com/channel/UC69dGPS29lmakv-D7LWJg_Q?guided_help_flow=3
ABOUT THE HOST
Rob Tyson is the Founder and Director of Mining International Ltd, a leading global recruitment and headhunting consultancy based in the UK specialising in all areas of mining across the globe from first-world to third-world countries from Africa, Europe, the Middle East, Asia, and Australia. We source, headhunt, and discover new and top talent through a targeted approach and search methodology and have a proven track record in sourcing and positioning exceptional candidates into our clients' organisations in any mining discipline or level. Mining International provides a transparent, informative, and trusted consultancy service to our candidates and clients to help them develop their careers and business goals and objectives in this ever-changing marketplace.
CONTACT METHOD
rob@mining-international.org
https://www.linkedin.com/in/rob-tyson-3a26a68/
Podcast Description
Rob Tyson is an established recruiter in the mining and quarrying sector and decided to produce the “Dig Deep” The Mining Podcast to provide valuable and informative content around the mining industry. He has a passion and desire to promote the industry and the podcast aims to offer the mining community an insight into people’s experiences and careers covering any mining discipline, giving the listeners helpful advice and guidance on industry topics.