by Peter Schiff, Schiff Gold:

Investment demand for physical gold was up by 20% in the second quarter compared to last year, continuing a trend we’ve seen over the last 12 months. This helped push overall gold demand up 7% year on year when including over-the-counter (OTC) sales and stock flows.

Coin and bar demand came in at 277.5 tons in Q2, a 6% increase over the same quarter last year, according to the World Gold Council Gold Demand Trends for Q2. Gold bars accounted for 162.9 tons of that demand. That was a 6% drop compared to the second quarter of ’22. Coin demand came in at 88.9 tons, a 25% increase year-on-year.