“In 2024. Global demand for gold increased to a new three -month high and record annual total increased increased geopolitical and economic insecurity,” said Shaokai, a global head of central banks at the World Council for Gold.
Shannon Stapleton | Reuters
The demand of world gold has reached another record in 2024 in the middle of a robust purchase of a central bank and the growth of demand for investment, the World Council for Gold said in its annual report.
Total golden transactions last year arrived 4974 tons, compared to 4,899 tons in 2023including the investments without a prescription (OTC).
“In 2024. Global demand for gold increased to a new three -month high and record annual total increased increased geopolitical and economic insecurity,” said Shaokai, a global head of central banks at the World Council for Gold.
The Apetit Central Banks for Gold remained “insatiable”, the Council said and reached a “significant turning point”, maintaining a consistently strong pace of gold shopping with a purchase that has surpassed 1,000 tons for the third year in a row. The National Bank of Poland was a leading net buyer among central banks, adding 90 tons to his reserves.
The Turkish Central Bank, which raised its gold reserves by 75 tons, was the second largest net buyer of gold among central banks. The India’s spare bank was third, with consistent shopping every month, except December.
Overall investment
Annual total investment in gold climbed to 25% to reach a four -year maximum of 1,180 tonnes, largely triggered by funds that are traded in gold.
Similarly, the demand for golden rods and coins remained solid, abolished by strong demand of China and India.
“Chinese investors have faced a lack of alternative assets that can be invested in,” the report said, stating that the mixture of domestic economic insecurity, the existent volatility of the capital market and recorded low yields of state bonds, pushed domestic investors in gold.
In India, the demand for gold was abolished after his government declined Customs to import gold from 15% to 6% in JulyThe World Gold Council noticed.
The demand for investment from gold has also grown in all Asean markets last year, with Singapore, Indonesia, Malaysia and Thailand reported a double -digit increase year after year.
OTC investments remained stable last year, and demand reflects individuals of high net values that want to protect geopolitical and economic risks, the Council said. OTC transactions take place directly between two parties, as opposed to the trading carried out.
Demand for jewelry still weak
The demand in the jewelry sector, which is pressed by higher prices, has been submerged, and consumption has fallen 11% of the year – the only outside as other acquired sectors, the report states.
The demand for gold jewelry is likely to be weak this year because the power of consumer consumer remains muffled with higher prices and soft economic growth, said Council analysts.
The lever prices are tears, and prices have recorded 40 record high maximums last year, and this year it will reach fresh peaks. On Wednesday, Gold Futures traded at New York’s trade exchange to $ 2,875.8 per ounce, data from Factset showed.
“In 2025. We expect the central banks to remain in the driver’s headquarters and gold investors ETF to join Fray, especially if we see the lower, though unstable interest rates,” said World Gold Council analyst, Louise Street.
The overall demand for investment is likely to remain healthy this year, with the expected lower interest rates to reduce the opportunities of gold posture costs, the report states.
