Work hard and you will find success

Eduard Utkin, Director General of the “Jewellers’ Guild of Russia” Association, expert of the RF Chamber of Commerce and Industry’s Committee on Precious Metals and Precious Stones, told R&P about implementing the SIIS PMPS (State Integrated Information...

Today

GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

WGC: Global Q2 gold demand flat, H1 down 10%

10 august 2021
In a recent announcement, the World Gold Council (WGC) says that global strong consumer demand recovery and Q2 gold ETF inflows were not enough to offset heavy Q1 outflows. Gold demand excluding over-the-counter for Q2 was virtually in line with Q2 2020 at 955.1t at -1%. That took H1 demand to 1,833.1t, down 10% y-o-y.
Q2 jewellery demand of 390.7t continued to rebound from 2020’s COVID-hit weakness, although remained well below typical pre-pandemic levels, partly due to weaker Indian demand growth. Demand for H1, at 873.7t, was 17% below the 2015-2019 average.
Bar and coin investment saw a fourth consecutive quarter of strong year-on-year gains: Q2 demand of 243.8 t resulted in an H1 total of 594 t, the strongest since 2013.
Modest Q2 inflows into gold-backed ETFs at 40.7t only partly offset the heavy outflows from Q1; consequently, ETFs saw H1 net outflows of 129.3t, for the first time since 2014.
Central bank buying continued in Q2. Global gold reserves grew by 199.9t, which took H1 net buying to 333.2t – 39% higher than the five-year H1 average, and 29% above the ten-year H1 average.
Gold used in technology continued to recover from the 2020 lows: Q2 demand was 18% higher y-o-y at 80t – in line with average Q2 demand from 2015-2019 of 81.8t. H1 demand of 161t was fractionally above that of H1 2019 at 160.6t.

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished