The World Gold Council expects in its 2024 Global Gold Supply and Demand Outlook

  1. Driven by over-the-counter investment, the demand for gold investment is expected to rise. Among them, the net outflow of global gold-backed ETFs may be mitigated by the start of the interest rate cut cycle and high geopolitical risks.
  2. Global central banks may continue their large gold purchases, and we believe that central banks' gold purchases are often relatively long-term strategic behaviors.
  3. The demand for gold manufacturing may remain stable 1/ While slowing global growth and high gold prices are likely to weigh on jewellery demand, China's economic stimulus and real income growth in many parts of the world will be favourable information. 2/ Artificial intelligence fever may support the demand for technology gold.
  4. 2024 is likely to be a record year for mine production, but the supply of recycled gold is likely to remain stable.
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