-
Geopolitical and economic uncertainty bolster gold demand and prices in 2023
The World Gold Council’s Gold Demand Trends report reveals that annual gold demand (excluding OTC) fell to 4,448t in 2023, down just 5% from a notably strong 2022. When factoring in demand from the OTC markets and other sources,1 total demand climbed to a new annual record of 4,899t. Investment from this more opaque source of demand supported 2023’s highest annual average gold price on record.2 The central bank buying streak continued on from 2022 at a blistering rate. Demand reached 1,037t last year, making it the second highest on record, down just 45t on the previous year. In contrast to robust OTC and central ... (full story)