Louise Street | Source | Senior Markets Analyst at World Gold Council

“Within the environment of high and rising gold prices, the mini banking crisis that we saw in March, continued high inflation and concerns around global economic recovery, that had a different impact on various different sectors of demand and different geographies. And that’s all combined to kind of create this mixed picture, and it’s something we talk about quite a lot in relation to gold is just that sort of diversity of its sources of demand does mean they tend to react in different ways for different things, and that’s what helps obviously to make it such a good strategic diversification asset.”

"Top of the tree for gold in terms of why official sector institutions hold it is always things like its role as a diversification asset, its long-term store of value, but increasingly over the last two years, we’ve seen how the importance that they placed on its performance during times of crisis."