Daily Market Update

Global Gold Buyers Are ‘Confident’ in Gold

‘Retail Gold Insights 2019’ has just been published by the World Gold Council. It is a thematic analysis of their new consumer research survey. With a base of 18,000 participants across India, China, Russia, Germany, the US and Canada, we believe it is the largest ever consumer survey on the global gold market.

5 main themes of the report

  • People are confident in – and loyal to – gold. Gold already has strong foundations and it’s important to know where that confidence is strongest and weakest.
  • But there are areas of mistrust. While people have confidence in gold, there is some mistrust around product purity and trustworthiness of some retailers.
  • Gold can resonate more deeply among younger consumers. Millennials’ attitudes towards gold are not so different from those of older generations. But there are perceptual misgivings among the younger Gen Z audience, particularly in China’s jewellery market.
  • Technological innovation can create a route to new audiences. There are some pioneering, technologically-savvy players in the gold market. But our data suggests there are too few.
  • There are knowledge gaps in the minds of potential gold buyers that need to be filled. This includes greater awareness around gold, through TV, print and social media; more quality education around the benefits of owning gold; and, while it is not a mainstream issue now, the next generation of potential gold buyers need better education around the industry’s ethical credentials.
  • You can access the Retail Gold Insights 2019 Report here

    NEWS and COMMENTARY

    Gold steady on concerns of delay in U.S.-China trade deal

    Gold ends slightly lower, then falls further after FOMC minutes

    Chinese Shoppers and Investors Are Losing Their Appetite for Gold

    Shares slide on U.S.-China spat over Hong Kong, dollar gains

    Wall Street falls on concerns about U.S.-China trade deal progress

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    GOLD PRICES (LBMA – USD, GBP & EUR – AM/ PM Fix)

    20-Nov-19 1475.70 1471.70, 1143.52 1138.95 & 1333.74 1328.36
    19-Nov-19 1464.90 1468.45, 1132.37 1134.23 & 1323.68 1325.86
    18-Nov-19 1458.40 1467.65, 1124.86 1132.59 & 1318.10 1325.88
    15-Nov-19 1465.60 1466.90, 1138.04 1136.41 & 1329.59 1327.84
    14-Nov-19 1467.65 1466.65, 1141.39 1142.52 & 1334.24 1333.18
    13-Nov-19 1463.45 1462.90, 1138.86 1140.62 & 1328.23 1328.46
    12-Nov-19 1455.00 1452.05, 1134.03 1130.42 & 1319.69 1318.17
    11-Nov-19 1465.50 1458.70, 1144.41 1132.39 & 1328.33 1321.87
    08-Nov-19 1466.85 1464.15, 1144.58 1142.62 & 1328.09 1328.13
    07-Nov-19 1484.10 1484.25, 1153.44 1156.82 & 1339.40 1341.76



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    Mark O'Byrne
    Executive Director

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