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Global gold demand dropped by 28% y-o-y   A weak fourth quarter sets the seal on  11-year low for annual gold demand The Covid-19 pandemic, with its far-reaching effects, was the driving factor behind gold consumer demand weakness throughout 2020, leading to a 14% decline in annual demand to 3,759.6t.  Last year was the first sub-4,000t year since 2009 according to the World Gold Council’s latest Gold Demand Trends report.   Global gold demand dropped by 28% y-o-y to 783.4t in Q4, making it the weakest quarter since the midst of the global financial crisis in Q2 2008.   Gold jewellery demand in Q4 fell 13% y-o-y to 515.9t, resulting in a full-year total of 1,411.6t, 34% lower than in 2019 and a new annual low for our data series. While demand improved steadily from the severely depleted Q2 total, the coronavirus continued to impact consumer behaviour.   Conversely, increased uncertainty and policy response to the pandemic supported annual investment demand, which increase

  Gold ETFs surpass 1,000 tonnes in September   Gold-backed ETFs and similar products (gold ETFs) recorded their tenth consecutive month of net inflows during September, matching equivalent stretches in 2008 and 2016. Gold ETF holdings increased by 68.1 tonnes (t) (US$4.6bn) or 2.0% of assets under management (AUM) despite gold’s worst monthly price performance since November 2016.   Global net inflows of 1,003t (US$55.7bn) in 2020 have led overall gold investment demand and taken the gold ETF holdings universe to a fresh new all-time high of 3,880t and US$235bn in AUM.     In a Monthly regional overview, gold was one of several major assets, including stocks and broad-based commodities, that started the quarter strongly, reversed course in September, but closed the quarter higher. This was mirrored by a stronger US dollar that finished the quarter nearly 4% lower. North American funds led global inflows once again, up 34.6t (US$2.2bn, 1.8% AUM). After seeing outflows in August,