Rising Inflation Sends Gold Demand Soaring 34% As Investors Scramble For A Safe Haven
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NEW YORK, May 17, 2022 /PRNewswire/ -- Investors once again looked to gold as a safe haven to protect their hard-earned cash in Q1 2022 as record inflation pummeled other investment vehicles. Physical demand for gold jumped 34% year-over-year to 1,234 tonnes in the first three months of 2022, according to the World Gold Council, marking the highest quarterly demand increase the gold market has seen since 2018. Demand for physical gold climbed even higher in April to a 10-month high, as global bond prices and stock markets dropped on expectations of higher interest rates. According to BullionVault's Head of Research Adrian Ash, "dev
