According to the World Gold Council's Gold Demand Trends (GDT) released on 12 February 2015, the global demand for gold jewellery witnessed a drop by 10 percent to around 2,153 tonnes in 2014, though it was above the five-year average.
Full year gold demand totalled 3,923.7 tonnes in 2014 from 4,087.6t in 2013, says GDT. The 4-percentyear-on-year drop was unsurprising as consumer demand was never likely to match the previous year’s record surge. Total annual supply was virtually unmoved at 4,278.2 tonnes. Growth in mine supply was balanced by a decline in recycling volumes to a seven-year low.
In terms of gold demand for jewellery fabrication, the report says 2014 was always going to be a difficult year for jewellery demand, contending with comparisons to phenomenal strength in 2013. After a steep drop in Q2 2014, demand for gold jewellery gradually recovered, culminating in the strongest Q4 since 2007. Full year statistics show the sector down by 10 percent at 2,152.9 tonnes, comfortably above the 2,053 tonnes average from the prior five-years.
On the supply side, the total annual supply of gold was static at 4,278.2 tonnes in 2014. Despite record annual mine production, growth in mine supply was neutralised by shrinking volumes of recycling.
← Back