PRESS ROOM
Gold bounces back in December following a month of weakness
Thursday 10th December '20
Gold prices shed around 5% in November as positive vaccine news stirred a strong risk-on sentiment in markets. Gold is expected to remain highly relevant and important for investors in the coming year for many reasons: accommodative fiscal and monetary policy in major economies including the US; weakness in the US dollar; rising levels of inflation as the global economy recovers; and the continued prevalence of negative-yielding debt. Physical gold held in exchange traded products (ETPs) globally sold off only slightly in November standing at just under 108m tonnes at the end of the month, compared to a high of 111m tonnes in October, and 83m tonnes at the start of the year. Gold prices have bounced back in December (as of 09 December).