World demand for gold increased by 4% in 2018

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Demand for gold in the world rose to 4,345 thousand tons, which is 4% more than the result of 2017. Central banks of the countries increased gold reserves by 74% compared to 2017, having reached the mark of 651.5 tons. This is the second largest value in the entire history of observations. More and more Central Banks of the countries use gold to diversify assets, so the demand for precious metals rose to the level of 1971, when they stopped converting the dollar into gold. The jewelry industry has maintained the demand for gold at the same level of 2.2 thousand tons. Growth in demand was noted in Russia (9%), China (3%) and the USA (4%). The demand for gold in the Middle East has fallen sharply by 15%. Exchange-traded funds faced a decline in demand by 67%, which is associated with a slowdown in economic growth. The volume of investments in gold coins and bars grew by 4% and exceeded 1 thousand tons. A slight decrease in demand was noted in the technology sector.

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