Demand for gold in the world grew in the first quarter by 7%

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In the first quarter of this year, the demand for gold in the world compared to the same period last year showed an increase of 7%, amounting to 1,053.3 tons. As reported by the World Gold Council, the quarterly growth rate was recorded due to the increase in central metal purchases of this precious metal, as well as due to the inflow of funds into gold exchange-backed ETF funds secured by gold. The quarterly increase in purchases of central banks by 68% in annual terms was a record since 2013. At the end of March, the total volume of gold acquired by central banks amounted to 145.5 tons. In India, the jewelry industry increased demand by 5% to 125.4 tons, which was the highest quarterly indicator since 2015. The inflow into the ETF, backed by gold, increased over the year by 49%, amounting to 40.3 tons. At the same time, in the first quarter, the demand for gold bars decreased. In the past quarter, electronics, wireless technology and LED lighting companies also reduced the demand for this precious metal.

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