Korean Media: China and India Account for Nearly Half of Global Gold Demand!
On May 21, South Korean media outlet "Today Digital" published an article stating that over the past decade, gold demand from China and India has accounted for nearly half of global gold demand. During the same period, emerging markets collectively made up about 70% of the total.
China is the world's largest gold consumer, accounting for 27% of global demand. According to the World Gold Council, the People's Bank of China has increased its gold reserves for 17 consecutive months as of March. In March alone, gold holdings rose by 5 tons, reaching 2,313 tons—approximately 9% of total foreign exchange reserves. China’s net gold purchases in the first quarter amounted to 7 tons.
India is recognized as the world’s second-largest gold market, representing 21% of global gold demand. The Confederation of Indian Industry estimates that the value of gold held by Indian households reaches around $5 trillion, surpassing the combined gold reserves of the world’s top ten central banks. The World Gold Council estimates that household and temple gold reserves in India amount to approximately 250,000 tons, valued at about $2.4 trillion.
This figure is equivalent to roughly 56% of India’s projected nominal GDP in 2026. Gold demand shares in North America and Europe are estimated at 11% and 12%, respectively.
Original Article: toutiao.com/article/1865784098727947/
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