“In 2024, the demand for global gold increased to the highest quarterly quarterly and record total annual backed by increasing geopolitical and economic doubts,” said Shokai, the global head of the Central Banks of the World Gold Council.
Shannon Stableton Reuters
The World Gold Council said in its annual report that the demand for the world on gold set another record in 2024 amid the purchase of the strong central bank and the growth of demand for investment.
The total gold transactions came in 4,974 tons last year, compared to 4,899 tons in 2023Including without prescription investments (OTC).
“In 2024, the demand for global gold increased to the highest quarterly quarterly and record total annual backed by increasing geopolitical and economic doubts,” said Shokai, the global head of the Central Banks of the World Gold Council.
The council said that the appetite of the central banks of gold remained “not saturated”, and achieved an “important landmark”, while maintaining a strong pace of purchase of gold with purchases exceeding 1000 tons for the third year in a row. The National Board of Poland was the pioneering buyer among the central banks, adding 90 tons to its reserves.
The central bank in Türkiye, which raised its golden reserves by 75 tons, was the second largest net buyer of gold among central banks. The Indian Reserve Bank was the third, with consistent purchases every month except December.
Total investments
The annual public investment in gold increased by 25 % to the highest level in four years of 1,180 tons, and nourish it largely from the boxes circulating in gold exchange.
Likewise, the demand for gold bars and giant currencies remained firm, raised by strong demand from China and India.
The report stated: “Chinese investors faced a scarcity of alternative assets for investment,” the report clarified that a mixture of local economic uncertainty, the constant stock market fluctuating, and registration of low government bonds revenue that prompted local investors to gold.
In India, the demand for gold was raised after its government was reduced Gold import duties from 15 % to 6 % in JulyNotice the World Gold Council.
The demand for gold investment also grew in all Asian markets last year, where Singapore, Indonesia, Malaysia and Thailand, which are two -digit increases on an annual basis, compared.
The Council said that OTC's investments remained stable last year, and reflects the demand for high -value individuals looking to hedge from geopolitical and economic risks. OTC transactions are carried out directly between two parties, unlike trading by the stock exchange.
The demand for jewelry is still weak
The demand in the jewelry sector, which was pressured at higher prices, has been subject to 11 % decreased annual – the only external that other sectors gained, according to the report.
The council analysts said that the demand for gold jewelry is likely to remain weak this year, as consumer spending force remains attached due to high prices and soft economic growth.
The prices of alloys were in a rupture, as prices reached 40 record levels last year and continue to get high levels of fresh this year. On Wednesday, golden futures on the New York Stock Exchange rose to $ 2,875.8 an ounce, and data from FactSet showed.
“In 2025, we expect the central banks in the leadership seat and the ETF gold investors to join the battle, especially if we see interest rates lower, if they are volatile,” said market analyst at the World Gold Council at Louise Street.
The report said that it is possible that the total demand for investment will remain in good health this year, with the expected interest rates to reduce the costs of alternative opportunity to contract gold.
