The World Gold Council (WGC) data show that global gold demand in the second quarter fell by 6% year-on-year, with a sharp drop of 19% in gold jewelry consumption; while the total demand for gold, including OTC Trading, rose by 4% to 1,258 tons, the highest in the same period in the WGC data series since 2000. WGC stated that due to the high gold price, consumers need some time to adapt to the price pump.

Data released by the World Gold Council (WGC) showed that global gold-backed ETFs saw net outflows of about US$1 billion in December, the seventh consecutive month of net outflows, with total Holdings falling by 10t to 3,225t. However, due to the rise in gold prices, the total global gold-backed ETF AUM rise 1% to US$214 billion. According to the report, European funds recorded net outflows of US$2 billion in December, while North American and Asian funds continued to buy gold, with North American funds increasing their holdings of gold for the second consecutive month with net inflows of US$717 million, while Asian funds recorded net inflows of US$208 million, marking the ninth consecutive month of gold inflows.

On July 6, the World Gold Council (WGC) released a mid-year gold market outlook report, analyzing the gold market prospects under multiple scenario assumptions in the second half of the year. Overall, gold helps improve defensive investment strategies. Gold, which performed strongly in the first half of the year, is likely to stabilize in the second half of the year if the expected mild recession in the U.S. economy becomes a reality, the report said. In this scenario, a weaker dollar and stable interest rates would provide a boost to gold, although downward pressure from cooling inflation would weigh on gold. Historically, gold has tended to deliver above-average monthly returns during central bank pause rate hike cycles.