Households have been snapping up bullion despite record prices Chinese investors and households were major gold consumers in 2023 amid strong global demand for the safe-haven metal, the World Gold Council’s quarterly report has shown. According to the publication, Chinese investment demand for gold – spanning bars and coins – jumped 28% last year to 280 tons. Jewelry consumption was also up 10% to 630 tons. Overall, gold purchases reached nearly 960 tons in 2023. “China was key to a lot of what was happening last year,” said Louise Street, senior market analyst at the WGC. “When you look at the consumer sector,
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