Chart gallery

28 January, 2022

Executive summary

 

ETF outflows only exception in robust gold demand recovery in 2021

ETF outflows only exception in robust gold demand recovery in 2021

Global annual demand by sector*

Sources: Metals Focus, World Gold Council; Disclaimer

* Data to 31 December 2021.

Jewellery

 

Economic recovery and lower price lifted jewellery demand to pre-pandemic levels

Economic recovery and lower price lifted jewellery demand to pre-pandemic levels

Global annual jewellery demand in volume and value terms*

Sources: ICE Benchmark Administration, Metals Focus, Refinitiv GFMS, World Gold Council; Disclaimer

*Data to 31 December 2021.

 

Release of pent-up demand in India led to a quarterly record for jewellery in Q4

Release of pent-up demand in India led to a quarterly record for jewellery in Q4

Quarterly Indian jewellery demand*

Sources: Metals Focus, Refinitiv GFMS, World Gold Council; Disclaimer

*Data to 31 December 2021.

Investment

 

Bar and coin demand jumped to an eight-year high amid high global inflation

Bar and coin demand jumped to an eight-year high amid high global inflation

Annual bar and coin demand by type*

Sources: Metals Focus, Refinitiv GFMS, World Gold Council; Disclaimer

*Data to 31 December 2021.

Central banks

 

Central bank gold demand rebounded off a decade low in 2021

Central bank gold demand rebounded off a decade low in 2021

Annual net purchases by central banks in tonnes*

Sources: Metals Focus, Refinitiv GFMS, World Gold Council; Disclaimer

*Data to 31 December 2021. Japan’s reported 81t increase in its gold reserves in March 2021 is excluded as this was the culmination of an off-market transaction between two different divisions within the Ministry of Finance.

 

2021 saw a broad range of central bank buyers, including developed market banks

2021 saw a broad range of central bank buyers, including developed market banks

Individual central bank net purchases and sales in tonnes*

Sources: IFS, International Monetary Fund, respective central banks, World Gold Council; Disclaimer

*Data to 31 December 2021 where available. Includes annual net purchases/sales of at least one tonne. Japan’s reported 81t increase in its gold reserves in March 2021 has been excluded as this was the culmination of an off-market transaction between two different divisions within the Ministry of Finance.

** Estimated

Technology

 

Technology sector recovered rapidly from the pandemic, driven by strong electronics demand

Technology sector recovered rapidly from the pandemic, driven by strong electronics demand

Annual technology demand by sub-sector*

Sources: Metals Focus, Refinitiv GFMS, World Gold Council; Disclaimer

*Data to 31 December 2021.

Supply

 

Mine production recovered partially in 2021 but remained below peak

Mine production recovered partially in 2021 but remained below peak

Global annual mine production*

Sources: Metals Focus, Refinitiv GFMS, World Gold Council; Disclaimer

*Data as of 31 December 2020. For an explanation of global mine production, please see the Notes and definitions.

 

Recycling fell 9% in 2021 to levels not seen for three years

Recycling fell 9% in 2021 to levels not seen for three years

Global annual recycling and gold price*

Sources: ICE Benchmark Administration, Metals Focus, Refinitiv GFMS, World Gold Council; Disclaimer

*Data to 31 December 2021. For an explanation of global recycled gold, please see the Notes and definitions.

Important disclaimers and disclosures [+]Important disclaimers and disclosures [-]