Global demand for gold by purpose quarterly 2016-2023

The demand of gold for jewelry purposes amounted to approximately 581.5 metric tons in the foruth quarter of 2023. This was the purpose with the highest demand in that quarter, ahead of investment, technology and central banks. 

Gold as an investment – additional information

Throughout history, gold has been desirable and in demand and has been characterized as a high value commodity. When investing in any commodity, risk assessments need to be taken into consideration. Generally gold is considered to be a safe investment. It becomes an attractive means of money allocation especially in times of turmoil on the financial markets. Also governments locate a big part of their assets in gold. The United States is the leading gold holding country worldwide, with gold reserves amounting to 8,133.5 metric tons.
The demand for gold globally in 2023 was estimated at over 4,400 metric tons.