Global gold demand share by sector 2022

The jewelry industry accounted for a 46.6 percent share of global gold demand in 2022, which amounted to about 2,192 metric tons. Jewelry was the largest gold demanding industry worldwide in most recent years, although it was the second after investment demand in 2020.

What is gold used for?

Gold is a transition metal that has characteristically bright yellow coloring. Besides its most famous use, in jewelry, it has many different useful applications. Because is a very efficient conductor that can carry tiny electrical charges, gold is found in cell phones and televisions. In 2022, gold used for technology accounted for 6.6 percent of global gold demand. It is also used in dentistry, as it is the best material for fillings and crowns since it is easy to insert. Gold used for investing was the second-largest demand sector in 2022, accounting for almost one-quarter of global gold demand.

Gold mining worldwide

The world production of gold mines has increased steadily over the years since 2005. In 2005, about 2,470 metric tons of gold was produced. In 2022, about 3,100 metric tons were produced. That was a slight increase in production compared to the previous two years. The countries that produced the most gold in 2022 were China, Australia, and Russia. China produced an estimated 330 metric tons, Australia produced 320 metric tons, and Russia produced 320 metric tons.