World Gold Council

August 3, 2024 1:03 PM

Global gold demand drops 6 pc in Q2 2024 due to slump in jewellery consumption, OTC investment pushes total to record high

Global gold demand in Q2 2024, excluding over-the-counter (OTC) transactions declined by 6 per cent year-on-year to 929 tonnes, primarily due to a sharp fall in jewellery consumption according to the latest report of World Gold Council. However, when including OTC investment, total gold demand increased by 4 per cent y/y to 1,258 tonnes, marking the highest Q2 figure since data collection began in 2000. The record-high gold prices took a significant toll on jewellery consumption. Volumes fell...

September 16, 2024 6:39 PM

India third-largest gold buyer in May, after Switzerland and China: WGC

The global gold market experienced a turnaround in May, ending a 12-month slump for gold exchange-traded funds (ETFs) with a resurgence in inflows. This positive momentum was driven by strong demand in Europe and Asia, despite minor outflows in North America. By the end of May, global gold ETF holdings had risen to 3,088 tonnes, with total assets under management (AUM) reaching $234 billion, a 2% increase for the month. Physically backed gold ETFs enjoyed a net inflow of $529 million, marking t...

April 30, 2024 5:53 PM

Global gold demand stays strong, supporting record-high prices

The allure of gold remains unwavering as global demand for the precious metal surged 3% year-on-year to 1,238 tonnes in the first quarter of 2024, according to the World Gold Council's latest Gold Demand Trends report. This marks the strongest first-quarter demand since 2016, defying the record-high average price of $2,070 per ounce during the period. Healthy investment, persistent buying by central banks, and higher demand from Asian buyers helped drive the gold price to a record quarterly ave...