Global gold holdings is said to have held firm at 1 083.8 t in the first quarter of the year, marking a rise of 1% on the same period last year, according to the World Gold Council’s (WGC’s) latest Gold Demand Trends report. The global Covid-19 pandemic fueled the safe-haven investment demand for gold, with gold-back exchange-traded funds (ETFs) attracting inflows of over 298 t to push global holdings in these products to a record high of 3 185 t.
