Global Gold Demand Hits Record High as Central Banks Drive Surge

Gold prices reach an all-time high of $2,865 per ounce, fueled by record central bank purchases and growing investment demand.

Global gold demand reached a record 4,974.5 metric tons in 2024, up 1% from the previous year, according to the World Gold Council.
Central banks purchased over 1,000 metric tons of gold for the third consecutive year, with Poland, Turkey, and India leading the acquisitions.
Gold prices surged 41% over the past year, hitting a historic $2,865 per ounce, as investors sought a safe haven amid economic and geopolitical uncertainties.
Investment in gold, including bars, coins, and ETFs, rose 25% to a four-year high of 1,180 metric tons, driven by demand in China, India, and ASEAN markets.
Jewelry demand declined by 11% in 2024 due to high prices, while spending on gold jewelry increased as consumers opted for lower quantities or grades.