World Gold Council: Gold demand to rise to new high in 2024

2025-02-05 14:33:00
On February 5, the World Gold Council said in a new report on gold demand trends that total gold demand rose by 1% year-on-year in 2024 to an all-time high of 4,974.5 tons. The value of this demand soared to $382 billion, driven by record prices brought on by geopolitical and economic uncertainties and investors seeking safe haven assets. Gold demand reached a record $111 billion in the fourth quarter. "Geopolitical uncertainty remains high and will always be a factor supporting investment in gold, whether it's moving from concerns about military conflicts to uncertainty about trade conflicts," said Louis Street, senior market analyst at the World Gold Council. The report says that geopolitical and economic uncertainties remain high in 2025, and it seems likely that central banks will once again consider gold as a stable strategic asset.