Published: 2021.02.22. WGC: Germany's contribution to global gold demand

WGC: Germany's contribution to global gold demand - Preview

The survey from the World Gold Council contains information on supply and demand for the yellow precious metal at the end of 2020. The total demand for gold last year fell by 14% to the level of 3,760 tons, but against this background, investment demand increased by 3% in annual terms to 896 tons.
Germany has become one of the leaders in terms of demand for investment gold. German investors bought 163.4 tons of gold in the form of bars and coins for 8.1 billion euros, which was a new record period for the entire period of statistics. The previous record was reached in 2011. Then, in Germany, yellow precious metal was sold in the amount of 5.2 billion euros.
Germany plays an important role in the global gold market. For example, in 2020, this country accounted for 64% of all European demand for investment gold. Germany accounted for 18% of the global demand for investment gold. Thus, this European country took second place in the world ranking after China (199.1 tons), and India (130.4 tons) is in third place. In 2019, Germany was in third place with a volume of 89.9 tons.
Even stronger than retail demand for physical gold, the demand for shares of "gold" ETF-funds, which are backed by a physical precious metal, has grown. According to the WGC, this figure rose to a record high last year and amounted to 877.1 tons - an increase of 120% in annual terms. Thus, the total investment demand at the end of 2020 amounted to 1,773.2 tons.
In general, we can say that last year the gold market from the spread of coronavirus in many countries around the world. First of all, this concerns jewelry. The demand for them decreased by 34% to 1.411.6 tons.
The demand from the tech sector decreased by 7% y / y and amounted to 301.9 tonnes. Net purchases of gold from the central banks decreased by 59% to 272.9 tonnes.
Global supply has also been affected globally by the coronavirus epidemic. Thus, 4.633 tons were produced at the fields - a decrease of 4% in annual terms. This is the worst indicator in the last five years. Recycling gave the market 1,297.4 tons - an increase of only 1%.
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