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The World Gold Council (WGC) in its Gold Demand Trends Q1 2023 has stated that global gold demand declined by 13 per cent year-on-year to 1,080.8 tonnes during the January-March quarter of this year (2023), as compared to 1,238.5 tonnes during the first quarter of 2022 mainly due to outflows from European-listed exchange traded fund (ETF) products. The report said Holdings of global gold ETFs fell during Q1, with 29 tonnes outflows in January and February equivalent to a $1.5 billion in outflow, added that the majority of outflows came from the European-listed products. However, it said North American-listed ETFs, as well as those listed in other regions, witnessed recovery in inflows during the first quarter of 2023.
The report further noted that bar and coin investment strengthened 5 per cent year-on-year to 302.4 tonnes compared to 287.7 tonnes in the same period of 2022, although there were notable shifts in key markets. The US bar and coin demand hit 32 tonnes in the first quarter, the highest quarterly level since 2010, and was driven primarily by recession fears and a flight-to-safety amid the banking turmoil. This increase helped offset weakness in Europe and particularly Germany where there was a 73 per cent drop in demand.
Meanwhile, jewellery performance was relatively flat in the first quarter at 477.9 tonne compared to 475.3 tonnes in the corresponding period of 2022. The report stated that Chinese demand regained ground, reaching 198 tonnes in its first quarter of unfettered consumer activity since lockdown restrictions were lifted. Besides, demand in India declined as consumption fell by 17 per cent year-on-year to 78 tonnes during January-March 2023, mainly on account of sharp increase in domestic gold prices to over Rs 60,000 per 10 grams and continued volatility in price.
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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