WGC: Gold Demand to Hit Record With Central-Bank Buying Gold demand reached an all-time high last year and is poised for further growth in 2024, fueled by anticipation of US Federal Reserve interest rate cuts, as reported by the World Gold Council (WGC). In 2023, overall gold consumption surged by approximately 3% to 4,899 tons, marking the highest level recorded since 2010. This increase was driven by robust demand in the less transparent over-the-counter market and continued strong purchasing by central banks. The WGC’s annual report highlights the significant role of gold in the current economic climate, suggesting a bullish outlook for the metal’s future. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Gold ETFs Wane Despite Highs: A Glimmer of Hope on the Horizon? READ MORE IMF Cautions Against Premature Rate Cuts by Central Banks READ MORE Gold Rebounds on Rate Cut Expectations and Safe-Haven Appeal READ MORE U.S. Shoppers Defy Expectations: July Retail Sales Exceed Forecasts READ MORE Gold Prices Rangebound Ahead of Key U.S. Inflation Data, Fed Decision READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment