Demand for gold hits four-year high after Brexit and Trump votes
by Julia Kollewe from Economics | The Guardian on (#2BA6M)
Political uncertainty drove investment demand up by 70% in 2016, while global demand was at highest level since 2013
The Brexit vote and the election of Donald Trump drove global demand for gold to a four-year high in 2016, as pension funds and other institutional investors piled into the precious metal while higher prices put consumers off jewellery purchases.
Global gold demand rose 2% last year to reach 4,309 tonnes, the highest level since 2013, according to a report from the World Gold Council, which represents gold miners.
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