Saturday, May 21News That Matters

Global gold demand rises 10% to 4,021 tonnes in 2021: WGC

Mumbai: Global gold demand rose 10 per cent to 4,021.3 tonnes in 2021 on account of a massive 50 per cent surge in year-on-year demand — a 10-quarter high — during the December quarter, a report by the World Gold Council (WGC) said.
The overall gold demand during 2020, which was impacted following Covid-19 related disruptions, stood at 3,658.8 tonnes, the WGC said in its ‘Gold Demand Trends 2021’ Report.
“The demand for the yellow metal was mainly driven by Central bank buying during the fourth quarter of 2021, recovery in jewellery consumption, mainly in India and China,” WGC Regional CEO, India, Somasundaram PR told PTI.
Demand for gold reached 1,146.8 tonnes in the October-December quarter in 2021, its highest quarterly level since the second quarter in 2019 and an increase of almost 50 per cent year-on-year, according to WGC data.
—PTI

 

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