Half of the world’s gold in the pockets of India and China! Global market excitement due to desire for gold; Where is this supply coming from?
- India and China own half of the gold reserves
- Emerging markets account for the largest share of gold demand
- Whose percentage share?
Half of All Global Gold Demand: Gold has always been considered a ‘safe haven’ in the global economy. However, according to recent data, India and China alone hold nearly half of the world’s total gold reserves and demand. Especially the central bank of China (PBOC) purchases and the gold required for festivals in India have shifted the flow of gold to eastern countries instead of western countries.
stop! Thinking of closing PPF account? A hasty decision can be costly; Fear of loss instead of profit?
Emerging markets account for the largest share of gold demand
The price of gold has increased significantly recently. In January, they hit an all-time high. But, after the Iran war, it has been seen to decrease to some extent. Emerging markets account for the largest share of global gold demand. Over the past 10 years, emerging markets have accounted for 70% of global gold demand. China is the first with 27% share, while India is second with 21% share. This means that these two countries account for almost half of the global gold demand.
Whose percentage share?
North America accounts for 11% of global gold demand, and Europe, including Russia, accounts for 12%. Middle East accounts for 7% and Southeast Asia accounts for 10%. This includes demand for jewelry, bars, coins, ETFs and technology. Looking at the supply side, mining production accounts for 74% of gold supply, while the remaining 26% is met through recycling.
Demand and supply
The highest demand is from China and India.
China’s share in global demand is 27 percent.
India is second with 21 percent.
Africa is number one in terms of supply
Whose share in supply
Africa leads the global gold supply with a contribution of 26 percent. Asia is second with 19 percent supply. Former Soviet Union countries and Central and South America account for 15 percent each. North America accounts for 14 percent, Oceania 10 percent and Europe 1 percent in gold supply.
China is the largest producer of gold
China is the largest producer of gold. It is followed by Russia, Australia, Canada, USA, Kazakhstan, Mexico, Ghana, South Africa and Uzbekistan. Gold prices fell on MCX today. Gold for June 5 delivery fell by nearly ₹1,800 during the trade. At 2:20 pm, gold was trading at ₹1,53,445, down ₹1,164.
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