Charting the world’s annual gold consumption
- Gold prices posted their biggest weekly gain since 2008 amid the coronavirus market crash.
- Bitcoin, believed by some to be a substitute for gold, has not risen in price among the market panic.
- Supply chain disruptions have led to unprecedented disruptions in the gold market.
- Industry experts believe that gold reserves are now being mined faster than they are replaced.
The Largest Sources of Annual Global Gold Demand
1. Jewelry: 2,107t (48.37% of demand)
2. Investment (total bar & coin): 870.6t (19.99% of demand)
3. Central banks & other institutions: 650.3t (14.93% of demand)
4. Investment (ETFs & similar): 401.1t (9.21% of demand)
5. Technology: 326.6t (7.5% of demand)
Visualization courtesy of HowMuch.net
Repost from 4-17-2020