When the World Gold Council published its first Gold Demand Trends report 30 years ago, Asian demand made up 45% of the world’s total. Today, the Asian share of global gold demand is approaching 60%. Article cross-posted from Zero Hedge .
China and India have driven this migration of gold East. The World Gold Council describes the two countries as “super consumers” of gold. Thirty years ago, China and India accounted for about 20% of annual consumer gold demand. Today, the two countries make up nearly 50% of gold demand. The Indian gold revolution started in the early to mid-1990s when government policy changes freed up the market. In 1992, gold demand in India accounted for 340 tons. In 2022, that had more than doubled to 742 tons.
India now ranks as the second-largest gold-consuming country in the world behind China.
Gold is not just a luxury in […]
Excerpt Sourced From: ourgoldguy.com