The World Gold Council’s Q4 and Full Year 2024 Gold Demand Trends report reveals that total annual gold demand hit a new, record high of 4,974t, driven by strong, sustained central bank buying and growth in investment demand. The combination of record high gold prices, and volumes resulted in the highest ever total value of demand at $382bn.

Central banks continued to buy gold at pace in 2024, with purchases exceeding 1,000t for the third year in a row. Buying ramped up significantly in Q4, reaching 333t and bringing the annual total for central banks to 1,045t.