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The World Gold Council’s latest Gold Demand Trends report reveals a remarkable continuation of central banks’ gold acquisition strategy, marking 15 consecutive years of net buying.
While the 2024 purchases of 1,044.6 metric tons slightly decreased from 2023’s 1,050.8 metric tons, it represents the third consecutive year above 1,000 metric tons – more than double the 2010-2021 annual average of 473 metric tons.
Total gold demand reached an unprecedented 4,974.5 metric tons, driven by a 25% surge in investment demand to 1,179.5 metric tons. Looking ahead, the market faces significant influences from U.S. macroeconomic dynamics under the new Trump administration, particularly regarding monetary, fiscal, and trade policies.
The implementation of new tariffs on China and potential trade tensions with Mexico and Canada could further strengthen gold’s appeal as a strategic asset and inflation hedge.
The World Gold Council anticipates continued robust demand from both central banks and ETF investors, with geopolitical and economic uncertainties persisting.
