Gold demand drops 14 % #infographic

Gold demand drops 14 % #infographic

Gold demand dropped to the lowest level since the 2008 financial crisis in the fourth quarter of 2020, according to World Gold Council reports. With its far-reaching effects, the coronavirus pandemic was the driving force behind this weakness in market demand in the year 2020.

Full-year estimates indicate that compared to 2019, the gold sector shrank by about 14 percent. Central bank demand fell especially sharply (-59%), but the decrease in the jewellery sector was also double-digit (-59%). (-33 percent). The technology market, influenced by the COVID-19 disruption, saw a 7 percent decrease in gold use in 2020 to 301.9t. The year, however, ended on a reasonably positive note, as shown in Q4.

gold-demand-drops-14-infographic

Infographic by: www.statista.com


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