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U.S. gold demand five times less than China
Commodities - SEPTEMBER 22, 2020

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U.S. gold demand five times less than China

by Released

Jewelry and investment account for 37.29 percent and 26.00 percent, respectively, of the total global gold demand. As of September 2020, the total global demand for gold stood at 5.29 million kilograms or 186.8 million ounces, according to data presented by Buy Shares.

Central banks’ demand for gold accounts for 12.14 percent. Other notable sectors in gold demand include bar demand (7.45 percent), industry (6.07 percent), electronics (4.86 percent), coin (3.85 percent), medals (1.13 percent), other (0.92 percent). Dentistry recorded the least demand at 12,587 kilograms or 0.23 percent.

The research highlighted the growth of gold as an investment avenue. According to the research report:

"Gold as an investment is subject to cyclical volatility since many investors speculate on its value. The high demand for gold for investment can be linked to the fact that the precious metal is considered a safe haven in the event of market volatility. This year, the market e

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