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Gold reserves of countries of the world
Main article: Gold reserves of countries of the world
Global Jewelry Market
Main article: Jewelry (global market)
2024: Sharp decline in gold imports in June amid high prices
Chinese gold imports in June 2024 fell to their lowest level since 2022. High prices can be a deterrent to demand.
2022: Russian gold shipments to China hit six-year record
Supplies of Russian gold to China reached a record in six years. The companies doubled their exports of unprocessed gold to China in October 2022, to 2.16 tons or $124.6 million. But they remain a minor supplier in the Chinese market, with Switzerland, Canada and South Africa leading the way.
2021: Gold consumption in China increased by 37%, to 1 thousand 120.9 tons
On January 27, 2022, it became known that gold consumption in China in 2021 increased by 37% compared to 2020 and amounted to 1,000 120.9 tons. This is evidenced by the published data of the Chinese Gold Mining Association.
According to Reuters, demand from jewelers increased almost one and a half times by 2020, to 711.29 tons, thereby increasing by 5% compared to 2019.
Investment demand for bullion and coins also increased by 27%, to 312.86 tons, thereby increasing by 39% compared to 2019. Demand from industrial and various other consumers increased by 15% by 2020, amounting to 96.75 tons.
By the end of 2021, gold production in China from domestic raw materials decreased by 10% and amounted to 328.98 tons, and 114.58 tons China were produced from imported raw materials. In total, 443.56 tons of gold were produced from domestic and imported raw materials in China, which is 7% less than the level of 2020. As follows from statistics, by the end of 2021, growth in gold demand in China slowed down, the growth in total consumption compared to the same period in 2020 amounted to only 13%, including investment demand even decreased by 5%. Demand power engineering specialists for industrial gold supports the development of a new one in China and the electronics industry as a whole, Reuters notes.
The use of gold in the technology sector in 2021 increased by 9% and reached 330 tons, the highest figure since 2019. Gold is increasingly used in a variety of electronics from mobile devices to large projects such as the James Webb telescope, which was launched into orbit on January 25, 2022. It is assumed that in 2022 the demand for gold is waiting for the same dynamics as in 2021, in addition, the demand for gold will continue to receive support from consumers and central banks, as explained by Reuters.[1]
2017: Gold reserves 2000 tonnes
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