New data from the World Gold Council (WGC) confirms that 2024 was an extraordinary year for gold. The latest figures shed light on the key trends driving record demand and why further increases in gold purchases remain likely.
For the third consecutive year, central banks purchased more than 1,000 tonnes of gold—more than double the average volume recorded in the previous decade. This surge in buying, as reported by the WGC, was a significant factor in the price of gold reaching record highs on 38 separate occasions throughout the year.
In total, nearly 4,975 tonnes of gold were purchased globally in 2024, marking the highest annual demand ever recorded. Compared to 2023, this represented a 1% increase, underscoring sustained interest in the precious metal.
According to WGC analysts, several factors suggest that demand will remain strong in 2025. Central banks are expected to continue increasing their reserves, while private investors are also playing a key role. Beyond traditional purchases of gold bars and coins, investors are showing growing interest in gold-backed exchange-traded funds (ETFs), further fueling the market.
With economic uncertainty and inflation concerns still present, gold remains a popular choice for those seeking stability. As central banks and individual investors alike continue their buying spree, the gold market is set for another dynamic year.
