1 February 2023 | Other

Last year recorded an increased demand for gold up to the levels of 2011

Demand for gold surged to an 11-year high last year. This is due to large-scale purchases on the back of high activity by retail investors and a slowdown of ETF outflows.

Annual gold demand rose 18% to 4,741 tons. Unprecedented demand for the yellow metal recorded in Q4, with a total of 1,337 tons, also contributed to the high performance of gold in 2022.

Investment demand (excluding over-the-counter) moved closer to 1,107 tons (+10%) in 2022. Gold bullion sales increased by 2%, reaching 1,217 tons. Meanwhile, ETF holdings declined less than seen in 2021 (-110 tons vs. -189 tons), attracting more investments in the precious metal. 

There was a high demand for gold from the central bank at the end of two consecutive quarters, which amounted to 417 tons. Annual purchases of the yellow metal hit a 55-year high of 1,136 tons, but the majority of this volume has not been reported.

Company MarketCheese
Period: 14.05.2025 Expectation: 1650 pips
Technical and fundamental background supports AUDCAD
07 May 2025 62
Elena_Dorokhina
Elena_Dorokhina

Listed among the best MarketCheese authors
1st in the segment "Currencies"
Period: 08.05.2025 Expectation: 550 pips
EURUSD to drop to 1.13000
07 May 2025 50
Period: 13.05.2025 Expectation: 240 pips
Brent crude price rebound to continue up to 65
07 May 2025 52
Period: 14.05.2025 Expectation: 1000 pips
Buying GBPUSD amid trade talks and weaker dollar with target at 1.344
07 May 2025 31
Period: 12.05.2025 Expectation: 1500 pips
USDJPY rebound fades ahead of Fed meeting
06 May 2025 64
Period: 30.05.2025 Expectation: 975 pips
Natural gas maintains upside potential within megaphone pattern
06 May 2025 67
Go to forecasts