In the first quarter of financial year 2022, there was a demand for about 517.5 metric tons of gold for jewelry. Prior to investments, technology, and central banks, this was the use with the largest demand during that quarter.
More details on gold as an investment
Gold has a long history of being coveted, in demand, and regarded as a high-value commodity. Risk analyses must be considered while making investments in any commodity. Generally speaking, gold is regarded as a secure investment. When the financial markets are in chaos, it becomes an alluring way to allocate capital. Governments also invest a significant portion of their assets in gold. With 8,133.5 metric tons of gold in its reserves, the United States held the most gold in the world.
Over 4,000 metric tons of gold were predicted to be demanded globally in 2021.
Approximately 11.4 percent of all gold produced is used in industry. Here is the detail chart on what is the gold usage in industry in percentage
Do check out our chart section to know more.