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Joe Cavatoni of @worldgoldcouncil breaks down gold demand in 2023, highlighting continued strength in central bank purchases. Led by China, demand from these entities came to 1,037 metric tons last year, just 45 metric tons less than the 2022 record.
Cavatoni also shared his thoughts on how gold demand could shape up in 2024, commenting, “You’ve got a strategic case to be made in terms of when and how monetary policy develops, but also you’ve got this tactical moving market in terms of geopolitical and political events that could keep gold very top of mind as a safe-haven hedge for people.”
Read the World Gold Council’s 2023 Gold Demand Trends report: https://bit.ly/3StvdMl
#Investing #Mining #Gold
0:00 – Intro
0:28 – Record-setting gold demand in 2023
2:13 – Biggest central bank buyers of gold
4:55 – Strong central bank buying to continue
7:29 – 10 year low in gold investment demand
11:34 – Key gold demand drivers for 2024
13:20 – Gold mine and recycling supply
17:18 – Outro
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The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
