Gold supply and demand
The gold-recycling industry will undergo important changes in the coming years. The World Gold Council and The Boston Consulting Group joined forces to analyse the landscape and identify key themes meriting close attention by industry players.
‘Turkey: gold in action’, explores the role gold plays across the entire value chain, and assesses gold’s economic contribution to Turkey.
Explore the factors that have driven China’s rise to become the number one producer and consumer of gold and why the market will continue to expand, irrespective of short term blips in the economy.
Mined for more than 5,000 years, gold’s economic and cultural significance as a sign of status, a store of value and a mechanism of exchange, remains, while new diverse uses for gold, as the basis of investment products and cutting-edge technology, have emerged.
The diverse uses for gold, in jewellery and technology and by central banks and investors, mean that across decades different sectors in the gold market have risen in prominence at different points in the global economic cycle. This means that, typically, there is a sustained base level of demand.
The World Gold Council tracks consumer demand across the major global markets in its quarterly publication Gold Demand Trends.
Use our interactive tool to search the database of consumer demand for physical gold across major global economies for the last two years.
(Consumer demand comprises jewellery and bar and coin demand.)
Today, no single country accounts for more than 14 per cent of world production. While its rarity endures, the sources of gold have become as geographically-diverse as gold demand.
Read more about the global distribution of mining output and the significance of recycled gold in meeting global gold demand.