A record 244 tones of gold was exchanged in 2023

In 2023, the total global gold demand including over-the-counter and stock flow was 4,899 tons last year.
According to the report published by the World Gold Council, the demand of central banks reached 1,037 tons in 2023, which is the second highest in history.
Global Gold Commodity Exchange Traded Fund (ETF) has seen an increase in its transactions as the demand for gold continues to increase.
In the year 2023, it is mentioned that 244 tons more was recorded in gold exchange. In contrast, the Chinese market saw an inflow of 10 tones of gold ETFs last year, bringing total gold ETF holdings to 61.5 tones by the end of 2023.
The global demand for gold bars and coins decreased by three percent annually, while the demand for jewelry consumption reached 2,093 tons. China’s economic reform has increased the demand for gold jewelry in the world market.
China’s economic recovery has boosted demand for gold jewelry, and the country has become a major attraction for the global gold jewelry market, the report said.
Last year, the supply of gold in the world increased by three percent. According to the report, the production of gold mines increased by one percent in 2023 and reached 3,644 tons.