World Gold Council Report
The World Gold Council (WGC) recently released its Q4 and Full Year 2024 Gold Demand Trends report, revealing significant insights into the global gold market. Central banks and investors indeed drove significant market strength in the gold sector throughout 2024, leading to record-breaking demand and prices.
Key findings from this report include:
Total gold demand increased 5% year-on-year to 1,313 tonnes, marking a record third quarter.
Total demand exceeded US$100 billion for the first time on record, supported by strong investment in a record-high price environment.
The report highlights several important trends in the gold market:
Central Bank Buying
Central banks continued their strong gold-buying trend in 2024, adding 1,045 tonnes to their global reserves. This marks the third consecutive year of purchases exceeding 1,000 tonnes, significantly above the 2010-2021 annual average of 473 tonnes.
The National Bank of Poland emerged as the leading buyer, acquiring 90 tonnes of gold in 202…
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