Gold hits record high, but consumer demand wanes: Clyde Russell

Gold has surged 18.5% this year, hitting a record high of $2,483.60. However, the surge in prices may dampen consumer demand. The World Gold Council's report highlights a record high in total gold demand but notes a slowdown in consumer purchases, particularly in jewellery and official coins. China and India's demand is declining, and central bank buying has eased. Despite this, ongoing geopolitical tensions and potential U.S. interest rate cuts may sustain investor interest in gold.

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By Clyde Russell

Gold has been the standout commodity performer so far this year, gaining 18.5% and posting a record high.

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