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Gold demand globally 2008-2018

Gold demand worldwide from 2008 to 2018 (in metric tons)

by M. Szmigiera, last edited May 27, 2019
Gold demand globally 2008-2018 Worldwide gold demand amounted to 4,345 metric tons in 2018. Demand has been noticeably higher since the Financial Crisis. Many investors look to gold in periods of market turmoil because they believe that it holds value through recessions better than other assets.
Gold supply

The supply of gold depends largely on mine production. Production, in turn, depends on two factors. The countries with higher reserves of gold work harder to extract their gold when the price of gold increases, following standard theory that quantity supplied increases with price. Similarly, the expectation of higher prices in the future prompts speculators to explore for new reserves. As they discover new lodes, the supply of gold increases.

Investments in gold

Gold is subject to cyclical volatility in its rate of return, and many investors speculate on its value. However, for historic reasons many view it as a symbol of price stability. After World War II, the Bretton Woods system tied the price of all major currencies to the price of gold until the 1970s. This legacy means that most countries still maintain large gold reserves. While this can drive gold demand, it also reduces the supply of gold in circulation by locking huge amounts of gold in central bank vaults.
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Gold demand worldwide from 2008 to 2018 (in metric tons)

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by M. Szmigiera, last edited May 27, 2019
Worldwide gold demand amounted to 4,345 metric tons in 2018. Demand has been noticeably higher since the Financial Crisis. Many investors look to gold in periods of market turmoil because they believe that it holds value through recessions better than other assets.
Gold supply

The supply of gold depends largely on mine production. Production, in turn, depends on two factors. The countries with higher reserves of gold work harder to extract their gold when the price of gold increases, following standard theory that quantity supplied increases with price. Similarly, the expectation of higher prices in the future prompts speculators to explore for new reserves. As they discover new lodes, the supply of gold increases.

Investments in gold

Gold is subject to cyclical volatility in its rate of return, and many investors speculate on its value. However, for historic reasons many view it as a symbol of price stability. After World War II, the Bretton Woods system tied the price of all major currencies to the price of gold until the 1970s. This legacy means that most countries still maintain large gold reserves. While this can drive gold demand, it also reduces the supply of gold in circulation by locking huge amounts of gold in central bank vaults.
Show more
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