ETF inflows push Q1 gold demand to 7-year high

Singapore

GLOBAL gold demand rose 21 per cent in the first quarter of this year from a year ago, as some US$13.8 billion of inflows made their way into gold exchange-traded funds (ETFs).

The amount, which represents 364 tonnes of gold, was a seven- year-high, and was close to levels last seen during the global financial crisis, according to the World Gold Council in its quarterly report released on Thursday.

Several factors have created a positive environment for gold investment in the past few months, the industry lobby group said. These include the negative interest rate implemented by central banks in Japan and Europe, China's deval…