In 2023, China topped the list of major gold consuming countries, with consumer demand amounting to 910 metric tons.
Gold consumption
Gold is a very valuable and widely used metal. In addition to its attractive appearance, it has properties that make it suitable for many important uses beyond jewelry. These uses include electronics (due to its conductivity and resistance to corrosion), dentistry, glassmaking, and more. Gold bars and coins are also used by many banks and individuals as a means of investing due to their limited supply and high value. In 2023, the reported consumption of gold in the United States stood at some 250 metric tons.
Gold demand by sector
The jewelry industry has the largest overall demand for gold of any sector worldwide that uses it by far, with a demand of some 2,168 metric tons of gold in 2023. By comparison, world gold production from mines in 2023 was estimated to have been some 3,000 metric tons. Gold consumption through jewelry was also the largest use of gold in China.
Consumption of gold worldwide in 2023, by selected country
(in metric tons)
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Consumption of gold worldwide in 2023, by selected country
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Visual Capitalist. (September 18, 2024). Consumption of gold worldwide in 2023, by selected country (in metric tons) [Graph]. In Statista. Retrieved February 22, 2025, from https://www.statista.com/statistics/299638/gold-consumer-demand-by-top-consuming-country/
Visual Capitalist. "Consumption of gold worldwide in 2023, by selected country (in metric tons)." Chart. September 18, 2024. Statista. Accessed February 22, 2025. https://www.statista.com/statistics/299638/gold-consumer-demand-by-top-consuming-country/
Visual Capitalist. (2024). Consumption of gold worldwide in 2023, by selected country (in metric tons). Statista. Statista Inc.. Accessed: February 22, 2025. https://www.statista.com/statistics/299638/gold-consumer-demand-by-top-consuming-country/
Visual Capitalist. "Consumption of Gold Worldwide in 2023, by Selected Country (in Metric Tons)." Statista, Statista Inc., 18 Sep 2024, https://www.statista.com/statistics/299638/gold-consumer-demand-by-top-consuming-country/
Visual Capitalist, Consumption of gold worldwide in 2023, by selected country (in metric tons) Statista, https://www.statista.com/statistics/299638/gold-consumer-demand-by-top-consuming-country/ (last visited February 22, 2025)
Consumption of gold worldwide in 2023, by selected country (in metric tons) [Graph], Visual Capitalist, September 18, 2024. [Online]. Available: https://www.statista.com/statistics/299638/gold-consumer-demand-by-top-consuming-country/
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