Skip to content
Subscriber Only

Gold Demand Rises to Three-Year High on Political Upheaval

  • Chinese currency weakness boosted investment demand: WGC
  • Bar and coin demand falls 2 percent after poor start to year

Gold demand rebounded to a three-year high in 2016 as investor concerns over political issues including Brexit spurred demand for a haven.

Purchases through exchange-traded funds helped global demand climb about 2 percent to 4,309 metric tons last year, the World Gold Council said in a report Friday. The recovery in ETFs offset a decline in coin and jewelry demand and reduced buying by central banks.