Gold Hits Records: Demand Rises Despite Jewelry Market Decline

According to hvylya.net: The World Gold Council has reported a rise in global demand for gold. According to the agency's data, the volume of demand increased by 3% compared to the previous year, reaching 1,248.8 metric tons.

Particularly impressive is the increase in gold investments - they have risen by 75%. Gold prices have surged by 26% since the beginning of the year, reaching a record high in April. Experts attribute the heightened interest in gold to uncertainties in global trade policies and geopolitical turbulences.

At the same time, the demand for gold jewelry has decreased by 14%, the lowest figure since the third quarter of 2020. Countries that traditionally utilize gold in jewelry production, such as China and India, have shown the largest drop in consumption over the past five years.

Moreover, central banks have reduced gold purchases by 21% in the second quarter, which has also impacted the global precious metals market.

Gold demand is rising amid uncertainty and instability, indicating the popularity of this asset among investors worldwide.