Global Gold Demand Exceeds $100 Billion in Q3 2024, First Time Ever at 1,313 Tons, Up 5% Year-over-Year

Oct 30, 2024, 09:10 AM

Global gold demand surged to over $100 billion in the third quarter of 2024, marking the first time this milestone has been reached, according to the World Gold Council. Total demand, which includes over-the-counter (OTC) investment, increased by 5% year-over-year, reaching a record volume of 1,313 tons. This substantial rise in demand is attributed to heightened interest from Western investors, as evidenced by a rally in gold prices and indications of 'fear of missing out' (FOMO) buying behavior. The data reflects a significant shift in market dynamics and investor sentiment towards gold as a safe haven asset.