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World Gold Council

  •   1 February 2024
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Geopolitical and economic uncertainty bolster gold demand and prices in 2023

The World Gold Council’s Gold Demand Trends report reveals that annual gold demand (excluding OTC) fell to 4,448t in 2023, down just 5% from a notably strong 2022. When factoring in demand from the OTC markets and other sources, total demand climbed to a new annual record at 4,899t. Investment from this more opaque source of demand supported 2023’s highest annual average gold price on record.

The central bank buying streak continued on from 2022 at a blistering rate. Demand reached 1,037t last year, making it the second highest on record, down just 45t on the previous year.

In contrast to robust OTC and central bank demand, ETF outflows continued in 2023, losing 244t in a third consecutive year of decline, with outflows in Europe dominating the picture.

The Gold Demand Trends Q4 and FY 2023 report, which includes comprehensive data provided by Metals Focus, can be viewed here.

 

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Latest Updates

Retirement

Is the Retirement Income Covenant really the right answer?

The world and Australia’s retirement landscape have changed a lot since 2020. If the RIC is to achieve its goals, a wider spread of responsibility and a rethink across all five pillars of retirement planning are needed.

Superannuation

Are mega super funds’ returns set to fall?

While the performance of the largest super funds has been admirable, they’ve become so big that it will make it difficult for them to outperform their benchmarks in future. It will be important for you to pick your fund wisely.

Superannuation

Australia’s shameful super gap

ASFA provides a key guide for how much you will need to live on in retirement. Unfortunately it has many deficiencies, and the averages don't tell the full story of the growing gender superannuation gap.

Shares

How will stocks fare with a smaller US government?

Less government involvement in the economy and markets is long overdue. But investors need to consider what a reduced government role may mean for the profitability of businesses that are unable to offset rising cost pressures.

Exchange traded products

Where is peak ETF?

The market share for Exchange Traded Funds and index trackers may increase past optimal levels and stay there for many years. There seems very little if anything that active managers can do to reverse that.

Insurance

Solvency risk with lifetime annuity providers

Any discussion on annuities needs to address the credit risk associated with relying on the solvency of a single insurer. Here's a guide on the regulation of annuities and the best ways to assess solvency risk. 

Planning

Can a crime invalidate a will?

A person's criminal record can impact whether they can benefit under a will or remain as an executor, trustee or testamentary guardian. A lot depends on the nature of the crime. 

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