According to the World Gold Council (WGC) report ‘Gold Demand Trends 2021’ has informed that the global gold demand rose 10 per cent in 2021 to 4,021.3 tonnes. The overall gold demand during 2020, which was impacted following Covid-19 related disruptions, stood at 3,658.8 tonnes.
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. India’s gold consumption surged to 797.3 tonnes in 2021, on the back of the recovery in consumer sentiments and pent-up demand post Covid-19-related disruptions and the bullish trend is set to continue this year as well.
Important takeaways for all competitive exams:
- World Gold Council CEO: David Tait;
- World Gold Council Headquarters: London, United Kingdom;
- World Gold Council Founded: 1987;
- World Gold Council President: Kelvin Dushnisky.