Worldwide gold demand rises during first quarter of 2022
- Published: May 17, 2022, 10 AM
Worldwide gold demand for the first quarter of calendar year 2022 was 34% higher than for the same period in 2021, according to Gold Demand Trends released by the World Gold Council.
Total market demand reached 1,234 metric tons — the highest since the fourth quarter of 2018 and 19% above the five-year average of 1,039 metric tons.
The overall increase is credited to a hike in gold investments in exchange-traded funds.
Global investment in ETFs during the first quarter of 2022 jumped by 268.8 metric tons, offsetting the 170 metric tons removed during the same quarter in 2021.
Coin and bar investment in North America remained unchanged from the first quarter of 2021, at 32 metric tons.
The U.S. Mint’s combined first quarter 2022 sales of 518,000 ounces of American Eagle and American Buffalo gold coins was the highest first quarter sales since the same period in 1999.
China’s gold demand plummeted 43% during the first quarter of 2022 compared to 2021, to 49 metric tons.
Gold bar and coin investment in the Middle East and Turkey slipped 77% during the first quarter, year on year.
The average quarterly price of gold in the first quarter of 2022 — $1,877.20 per troy ounce — is 5% higher than the same period in 2021.
Gold bar and coin investment in India climbed 5% year on year, to 41 metric tons.
The complete report can be seen online on the World Gold Council site at www.gold.org.
MORE RELATED ARTICLES
World Coins Feb 6, 2023, 1 PM
US Coins Feb 6, 2023, 12 PM
World Coins Feb 5, 2023, 4 PM
US Coins Feb 4, 2023, 6 PM