Global demand
The demand for gold worldwide rose to more than 4,740 metric tons in 2022, the highest demand in a decade. There are several different industries that use gold, and in 2021, the largest of these was the jewelry industry. In 2021, the jewelry industry used over 2,200 metric tons of gold, accounting for more than double any other sector. Regionally, India and China account for the largest share of global gold jewelry demand.Diamonds are probably the most iconic gemstone to be used in jewelry production, thought of by many as a symbol of everlasting love and luxury. In 2021, the diamond jewelry market was valued at about 87 billion U.S. dollars worldwide. Silver and platinum are two other commonly used jewelry materials, though platinum jewelry has seen a downwards trend in popularity over the years.