80% of Global Gold Demand Comes from Emerging Economies
The international gold market is a complex and dynamic one, with a wide variety of factors influencing supply and demand. In recent years, emerging economies have played an increasingly important role in the gold market, driving up demand and prices.
According to the World Gold Council, emerging economies now account for 80% of global gold demand. This is a significant increase from just a few décadas ago, when developed economies were the primary drivers of gold demand.
There are a number of reasons for the rising demand for gold in emerging economies. One reason is that gold is seen as a safe haven asset, especially during times of economic uncertainty. Gold is also a traditional store of value in many emerging economies, where it is often used as a form of savings or investment.
Another reason for the rising demand for gold in emerging economies is the growing middle class. As people in emerging economies become wealthier, they are increasingly able to afford to invest in gold. This is especially true in countries where there is a cultural affinity for gold, such as China and India.
The rising demand for gold in emerging economies has had a significant impact on the global gold market. It has helped to drive up gold prices, and it has also made gold a more volatile asset. However, it is also a sign of the growing economic power of emerging economies, and it is likely to continue to be a major factor in the gold market for years to come.
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