The June quarter was an important one for the gold market as the price broke out of a tight range, but SA’s gold industry missed it.

Outlining key findings in the World Gold Council’s latest update, Alistair Hewitt, a director at the council, said not only was the traditional driver of US interest rates a factor in steering the gold price, but also strong inflows into gold-backed exchange traded funds from European buyers, particularly in the UK.

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