To The Moon

The gold market saw a strong start to 2022. On Wednesday the WGC released its quarterly trends report for the first quarter, noting that physical gold demand increased to 1,234 tonnes, a 34% increase compared to the first quarter of 2021.The report said that gold demand saw its biggest quarterly jump since the fourth quarter of 2018; at the same time, demand was 19% above the five-year average. Global gold ETFs saw their holding grow by 269 tonnes, the highest quarterly inflows since the third quarter of 2020. Total ETF holdings are just 2% down from the record levels seen in 2020. The report said that central banks bought 84 tonnes of gold in the first three months of the year, down 29% from last year. Egypt was the biggest buyer, increasing its reserves by 44 tonnes. The WGC analysts sai