The report also noted inflows into low-cost ETFs.
Although the investment demand has been fairly disappointing since the start of the year, analysts at the WGC said that they expect to see a pick-up through the second half of 2021.
Markets remain nervously poised for the outcome of rising inflation and central banks’ reactions to it,” the analysts said in a separate report.
“Despite further signs of economic improvement and rallying equity indices, investor optimism for a quick recovery seems to have subsided in April.