BullionVault reported that private investors and retail sellers eased their physical gold purchasing pace. Gold Investor Index dropped from 58.6 in April to 53 in May.
The Gold Investor Index soured in April due to the historic dip in gold price. It recorded its highest level in 16-months on bargain hunting, according to BullionVault.
As the PMI, the any number above 50 on the Gold Investor Index scale indicates more buyers than sellers.
Miguel Perez-Santalla, BullionVault New York Vice President, said that bears have gained an upper hand, but the retail investors remain positive.
Premiums of gold coins and bullions reached its peak and haven’t eased yet, which might be the reason behind this slow movement on the buying waiting for premiums to ease a little more.
Retail investors probably will reenter the market, as they kept their accounts opened for future opportunities, he added.