More Western investment ‘needed’ in the global gold market

World Gold Council Market Strategist John Reade claims there "needs" to be more Western investment in global gold markets for the commodity to trade higher "sustainably". Gold continues to reach fresh record highs, with global demand amassing 100 billion US dollars in value, according to the latest World Gold Council report. "The thing that needs to continue to shift is we need to see more western investment demand for gold," Mr Reade said. "The last few years have been dominated by emerging markets buying of gold – whether that's emerging market central banks, emerging market jewellery, bar and coin investment. "But there are signs of all of those categories starting to slow down a bit - what's been missing from gold is western demand." "The physical coin and small investment bar market in the West still remains quiet - we need to see that to improve for gold to trade higher sustainable.