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Annual gold demand soars to a new decade high in 2022
The World Gold Council’s latest Gold Demand Trends report reveals that annual gold demand (excluding OTC) in 2022 increased by 18% year-on-year, hitting 4,741t – the highest annual total since 2011. Boosted by a record fourth quarter, demand for gold was propelled by hefty central bank-buying and persistently strong retail investment.
World Gold Council Report: Climate Change Adaptation and Resilience Strategies for the Gold Mining Industry
A strong third quarter lifts gold demand to pre-pandemic levels
The World Gold Council’s latest Gold Demand Trends report reveals that gold demand (excluding OTC) in the third quarter of 2022 hit 1,181 tonnes, up 28% year-on-year. Strong demand pushed the year-to-date total to its pre-COVID levels. Gold demand was bolstered by consumers and central banks, although there was a notable contraction in investment demand.
Declaration of Responsibility and Sustainability Principles
The gold industry has come together, convened by LBMA and World Gold Council, to sign a Declaration of Responsibility and Sustainability Principles which formally expresses a shared commitment to operating in a responsible and sustainable way based on clear set of shared goals. The Declaration was announced at the LBMA/LPPM Global Precious Metals Conference, Lisbon on 18th October.
An SRO for India’s gold industry
India’s gold industry has evolved and matured over recent years. Initiatives have been taken to create greater cohesion and consistency, improve compliance and foster confidence. That is why the time is right to establish a self-regulatory organisation (SRO) for India’s gold industry.
