ANZ highlights the unexpected resilience of physical gold demand despite the surge in prices, attributing steady global consumption levels to strong interest from China and India. The report discusses the potential limits to further demand growth due to the prolonged period of elevated prices.Key Points:Steady Global Consumption: Global gold demand remained consistent at 3,057t in 2023, closely aligning with the decade's average despite record-high prices.China's Strong Demand: A 16% year-on-year increase in China's gold consumption to 959t in 2023, driven by pent-up demand and a shift towards value preservation amidst economic uncertainties.India's Sustained Interest: India's gold consumpti
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