30 July 2024
The World Gold Council’s Q2 2024 report shows mixed trends in gold demand. While overall demand increased by 4% year-over-year to a record high for Q2, driven by over-the-counter investment and central bank purchases, consumer demand weakened.
Jewelry consumption fell sharply due to record gold prices, but technology sector demand increased. Regional differences persisted, with stronger investment demand in Eastern markets contrasting with declines in the West.
Despite these variations, gold supply grew, with mine production reaching a Q2 record and recycling supply responding to higher prices.