Gold demand grew last year as investors bought gold bars and coins and central banks added to their holdings. Rising interest rates are expected to be a headwind for the yellow metal in the year ahead. Gold demand surged last year as retail investors flocked to the safe haven asset and consumers splashed out on jewellery. Demand for the yellow metal recovered last year to reach over 4 000 tons, following on Covid-19-induced losses from 2020, the World Gold Council’s latest Gold Demand Trends Report found. This is all about the opportunity cost, Krishan Gopaul, a senior analyst at the World Gold Council, told Fin24.

Source: News 24 January 28, 2022 08:02 UTC