World Gold Council – Gold Demand Trends, Q3 2024

The World Gold Council's "Gold Demand Trends, Q3 2024" report reveals a 5% year-over-year increase in global gold demand, reaching 1,313 metric tons, driven by significant investment inflows amid geopolitical uncertainties and economic shifts. The report highlights that the value of global gold demand exceeded $100 billion for the first time, with investment demand more than doubling to 364 tons. This surge was primarily due to a sharp swing to notable inflows into global gold ETFs, marking the first positive quarter since Q1 2022. Conversely, bar and coin investment fell by 9% year-over-year, influenced by declines in key markets such as China and Turkey. Central bank gold purchases also slowed, with a 49% year-over-year decrease to 186.2 tons, attributed to high prices. Despite these variances, the overall demand landscape underscores gold's enduring appeal as a safe-haven asset in times of economic uncertainty.