Into the second quarter of the year, gold demand decreased by 11%, the lowest recording since 2009, with demand for the first half of the year down by 6% and jewelry sales falling. The main influence on its market being the Covid-19 pandemic as it has curtailed consumer demand and imposed travel restrictions, which made it harder to supply. Lockdown measures implemented across the world have disrupted mineral exchanges and traditional markets which in turn caused most businesses to grind to a halt or close to avoid losses and/or bankruptcy.
The global response by governments and central banks to the pandemic has included massive liquidity injections which charged record flows of 734 tonnes into gold exchange traded funds. This helped increase the price of gold, gaining 17% in dollar terms and reaching…
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