AAAU - Gold Demand Trends Q1 2020
Gold demand inched up to 1,083.8 tonnes (t) in Q1, supported by investment
The global COVID-19 pandemic fuelled safe-haven investment demand for gold, offsetting marked weakness in consumer-focused sectors of the market.
Total Q1 demand grew marginally to 1,083.8t (+1% y-o-y). The coronavirus outbreak, which swept the globe during the first quarter, was the single biggest factor influencing gold demand. As the scale of the pandemic - and its potential economic impact - started to emerge, investors sought safe-haven assets. Gold-backed ETFs (gold ETFs) attracted huge inflows (+298t), which pushed global holdings in these products