Investment demand for Gold has not been moving in tandem with prices for more than a year. Strategic investment inflows will be crucial for the Gold price, economists at ANZ Bank say.

A less crowded investment in Gold presents significant upside potential

Record highs of equity markets, along with heightened geopolitical tension, will encourage investors to add Gold to portfolios.

In our view, a less crowded investment in Gold presents significant upside potential as this leaves more room for increasing Gold holdings. 

We estimate investment demand to shoulder nearly 460t of Gold to keep the market balanced in 2024.