WGC: Global Gold Demand Reaches Record 4,900 Tonnes
Published
Annual demand increased by 1%, according to the World Gold Council
Global demand for gold in 2024 reached a record high of 4,900 tonnes, reflecting a 1% year-on-year increase, according to a report by the World Gold Council (WGC).
In monetary terms, this figure amounted to $382 bn, driven by high gold prices.
According to the WGC’s estimates, investor interest in gold surged by 25% year-on-year, surpassing 1,100 tonnes. This growth was primarily fuelled by exchange-traded fund (ETF) investments in the second half of 2024.
The WGC also highlighted that central banks have been purchasing over 1,000 tonnes of gold annually for the third consecutive year. In 2024, they acquired 1,045 tonnes, with the National Bank being the largest buyer, followed by India’s and Turkey’s central banks.
