The World Gold Council is back with gold demand trends for 2023. Last year, gold demand reached a record high, driven by strong central bank purchases and sustained jewelry demand, despite significant outflows from Exchange-Traded Funds (ETFs). The total annual gold demand, excluding over-the-counter (OTC) transactions, was 4,448 tons, slightly lower than the robust demand seen in 2022. However, including substantial OTC and stock flows, which amounted to 398 tons, the total demand for gold in 2023 escalated to an unprecedented 4,899 tons.
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