The gold market is experiencing a change in activity, with a slowdown in the purchases of central banks and an increase in the demand for stock -listed funds (ETF) and cryptocurrencies backed by gold. The latter recently reached their maximum in three years, according to the net volume of tokens minting backed by precious metal.
According to Derwa.xyzeste Impulso contributed to the market capitalization of the sector rising 6%, to 1,430 million dollars. Meanwhile, the volume of monthly transfers increased by 77%, to 1,270 million dollars, which marks a strong resurgence of interest in digital representations of precious metal.
The increase in tokens activity reflects a broader trend in the gold market.
The latest of the World of OroinformeMemorming sample that the total demand for gold in the first quarter of the year reached 1,206 tons, an year -on -year increase of 1% and the first stronger quarter since 2016. The increase occurred despite a slowdown in the purchases of the Central Bank, which fell to 244 tons, from 365 tons in the fourth quarter.
The Golden ETF played a fundamental role in this change. The investment demand has more than duplicate, reaching 552 tons, suggesting that investors are moving towards the precious metal, a strategy by which historically the central banks are known.
These tickets promoted the quarterly average gold price to a record of $ 2,860 per ounce, 38 % more than the previous year. However, the price dropped 2.35 % last week, after rising 23.5 % so far this year, while risk assets, including cryptocurrencies, rose. Cash gold currently quotes at $ 3,240.
While the demand for traditional gold, such as jewelry, experienced a slowdown, falling to minimums of the pandemic era, the demand for bars and currencies remained high, especially in China.
Reading continues: Tokenized gold exceeds 2,000 million dollars in market capitalization as the fear of tariffs drives the refuge asset trade.
