Gold-Backed Crypto Minting Volume Hits 3-Year High as Central Bank Buying Drops
Total gold demand reached its highest first-quarter level in nine years, driven by increased investment demand and bar and coin purchases. Gold ETFs saw a surge in investment, while gold-backed cryptocurrencies experienced a resurgence with a 77% increase in monthly transfer volume. Despite reaching a record average quarterly price, gold experienced a slight dip in the past week. The gold market is seeing a shift in activity, with central bank buying slowing and demand from exchange-traded funds