World Gold Council: Global Gold Demand Hits New High as Prices Soar in 2024
Article by World Gold Council
The World Gold Council’s Q4 and Full Year 2024 Gold Demand Trends report reveals that total annual gold demand (including Over The Counter ‘OTC’) hit a new, record high of 4,974 tons, driven by strong, sustained central bank buying and growth in investment demand.
The combination of record high gold prices, and volumes resulted in the highest ever total value of demand at $382 billion.
Central banks continued to buy gold at pace in 2024, with purchases exceeding 1,000 tons for the third year in a row. Buying ramped up significantly in Q4, reaching 333 tons and bringing the annual total for central banks to 1,045 tons.
Global investment demand increased 25% year-on-year to 1,180 tons – a .....