Gold sales hit a record $65.3bn last year in spite of a 10 per cent fall in demand in tonnage terms, according to the World Gold Council, which released its fourth-quarter report on the market on Thursday.
Rapid growth in the popularity of gold exchange traded funds means that ETFs have become the main driver of investment demand growth. The launch of several new gold exchange traded funds helped inflows into ETFs rise by 27 per cent, to 265 tonnes, last year.
Investment in gold ETFs overtook demand for gold bars, which fell by 18 per cent last year, to 214.5 tonnes. In total, identifiable investment demand rose by 7 per cent last year, to 636.7m tonnes.
-Financial Times
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