Geopolitical, economic uncertainty supported last year’s gold demand, price
Member organisation the World Gold Council’s (WGC) latest ‘Gold Demand Trends’ report, released on January 31, indicates that yearly gold demand – excluding over-the-counter (OTC) market demand – fell to 4 448 t in 2023, down just 5% from what the council says was a notably strong 2022. When factoring in demand from the OTC markets and other sources, total demand climbed to a new yearly record at 4 899 t.