According to the World Gold Council, over the first-half of the year, investment demand for gold, which includes bars and coins and demand from ETFs, hit 1,063.9 metric tons, or up 16% from the previous first-half-of-the-year record in 2009, and accounted for almost half of the overall gold demand for the first six months of 2016, reports Myra Saefong for MarketWatch.
Specifically, investment in gold jumped to 448 metric tons in the second quarter, or more than double the figure of the same period year-over-year, largely due to a year-over-year increase in ETF investment to 236.8 metric tons, compared to a 23 metric ton outflow the year prior.
SEE MORE: Record Investment Demand for Gold ETFs
Macquarie thinks investors are tiring of “fixed income markets that don’t generate income, and a stock market rally that has run out of steam amid anemic economic growth. World governments could resort to drastic measures if commodities like gold or cryptocurrencies begin to gain real steam,” according to ETF Daily News.
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