The gold market is seeing a change in the activity, with the slowdown of the Central Bank and the demand for funds quoted in the stock market and cryptocurrencies backed by gold. The latter recently moved to a maximum of three years, measured by the net minting volume for tokens backed by precious metal.
According to Rwa.xyz data. That impulse helped increase the market limit of the sector 6% to $ 1.43 billion. Meanwhile, the monthly transfer volume increased 77% to $ 1.27 billion, marking a strong resurgence of interest in digital representations of precious metal.
The increase in record activity reflects a broader trend in the gold market.
The last World Council report shows that the total demand for gold in the first quarter of the year reached 1,206 tons, an increase of 1% year after year 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, below 365 tons in the fourth quarter.
The ETF of Gold played a central role in the change. The investment demand has more than duplicated to 552 tons, which suggests that investors are moving to the precious metal, so the central banks are historically known.
These tickets helped boost the average quarterly price of gold to a record of $ 2,860 per ounce, 38% more than the previous year. However, the price fell 2.35% last week, after increasing 23.5% in the year in which it will be held, while risk assets, including cryptocurrencies, increased. Spot Gold is currently quoted at $ 3,240.
While the demand for traditional gold, such as jewels, was seen a recession, which dates back to the minimums of the pandemic era, the demand for bars and currencies remained high, especially in China.
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